CRON looks to be consolidating after its recent drop after its poor earnings, and has spent over a week now consolidating in the Ichimoku cloud, building lower highs and not showing much bounce strength.
Obviously, the one risk factor here is that they have investment from Altria and could come out with some M&A or international development. But other MJ...
As charted in today's YouTube video, full details on how I arrived to the counts there.
Cronos is one of the older assets in a young market. On a long term view, I believe it's in the final waves of it's current cycle. However, that doesn't mean that it can't make significant new highs. It appears to be forming a flat continuation pattern here. With fundamentals...
CRON saw the anticipated hourly pullback to cool off RSI levels and backtested previous resistance as support. Key level support is the low of the day, and key resistance is the high of the afternoon bounce.
Keep in mind the past 10 weeks have been an incredibly bullish market environment, which is perfect for MJ bull runs to thrive in. We've been seeing...
All time high test is coming this week, but the hourly chart is very extended and needs a new hourly support to be established. The only resistance left from here is our all time high. CGC is in a similar pattern but hasn't yet broke, so we're watching for that potential tomorrow
Re-test of $25 is coming. Lets see if it penetrates.
Double top formed after CGC ER catalyst move.
Great short entry at $24.80 if confirmation wanted and a more aggressive strategy at this level toward $25 if fade strategy is in play.
I am shorting 200 shares at 27.32 holding till $25 to fade if it breaks through I'll add. Stop is at $27.60.
CRON remains in a tightening and choppy 4hr range - if we can break bull on big volume we're looking back up at higher resistances and potentially testing our all time high. Bulls must defend $25.00 support from here
Hi, having trouble with the hotel wifi as I'm on vacation skiing in beautiful Lake Louise AB so I'm not doing videos tonight. CRON's hourly setup is looking pretty good, having broken a resistance level and now setting a higher low on the hourly. Bulls need to break 27.31 first thing tomorrow to try to make their way back up to recent highs, a failure to do so...
Current Pos: Short Apr18 $20 USD puts. Scaled down to 1/3 Position Friday Close.
Idea: Locked in profits from Short in case of bullish ACB earnings (Guide down could pull an AAPL). if ACB bullish, looking for bounce to play weekly calls intraday. Will reload puts on strength, any rally likely to fade going into CGC earnings. Still a good chance this runs into CRON...
CRON looks like it wants to break out. With set ups like this I either look to buy on a pull back into support for a pre break out buy or will I sell into parabolic breakouts at the 1.27 inversion.
Please note I am a short term trader.