Based on the wedge and the golden cross coming, this maybe a great call option play
The stock is already over extended but the market does not always care.
Most overbought it has been in a year.
Don't see a big differentiator for them even with all their different brands. Whereas a company like $ACB has industry-leading operations.
MACD is loosing momentum.
My target price range is $5.5 - $6.95
There is a strong resistance at $6.95, but if this breaks we are headed down to $5.5.
a channel breakout is identified in this market. A low risk good reward entry would be to : wait for the market to test the backside of the broken resistance line (upper channel line ) and turn it to support ,rather than chasing the price
The picture for CRON is becoming increasingly bullish when we look at the high timeframes
rather than get bogged down in the daily moves.
$12.00 seems to be the key level for Bulls to reclaim, above which volume resistance
reduces substantially. That level has a cluster or resistances.
- Volume Shelf
- Historical pivot and candle resistances.
- 0.382 Dead cat...
Entering on the breakout of 8.84 resistance level with signs of support. Risking against 8.5 with a potential profit level of 10.8.
RR: 3.24
Risking 0.5% of portfolio
CRON a Marijuana stock, is ready for a massive breakout.
Stops and Targets are outlined on chart.
Expect an initial large candle on breach of the breakout level with a shallow retest of the level.
I outlined two targets to keep track for the longer term.
Expect Target 1 to hit quickly with possible consolidation in that zone.
Target 2 should follow.
Good...
I recently looked at an old stock I had acquired a while ago. I'm surprised to see it is looking exactly like many alt coins right now. Double bottom. Accumulation. This thing is going to fly over the next few years. Long term target is 36 dollars.
For long term investors this is a decent place to enter and hold. Cronos is a great stock to sell covered calls against as the call premiums are high. Sell calls 2-6 weeks out of the money and collect the income until you get called. Strong cash position to endure the research and development strategy of Cronos. Doesn't hurt to have Marlboro (Altria - ticker...
