Hello Fellow Traders,
Today we are looking at Cronos Group Inc ( CRON ) on the TSX. As we can see, prices have been correcting after peaking in July around $35. However, the new 2020 high set just recently is only at $11.85. We can see a double bottom printed this year on the daily chart , as well as the bullish falling wedge pattern. With prices consolidating...
On the RSI there's a H&S patter so visible if I need to draw it I'm not sure you're familiar with a Head & Shoulders pattern.
What Is A Head And Shoulders Pattern?
A head and shoulders pattern is a chart formation that resembles a baseline with three peaks, the outside two are close in height and the middle is highest. In technical analysis, a head and shoulders...
Trend reversals from bearish to bullish always expect a retest of prior resistance. Cron will
Most likely retest the 50sma on 30m with
Bullish Enthusiasm in early minutes of trading. Cronos is less bearish than other weed stocks which makes this stock easy to trade swings.
Risk Amount: Position size should be max. 3% to 5% of portfolio total
Entry Price(s): Multiple entries with a scaling strategy to average down or average up the net cost over 6 to 8 weeks.
Publication: Free Analysis (Promotional)
Description: Cronos Group
Type of Analysis: Technical
Source of Analysis:...
This BID up on the NASDAQ was insane. The weekly 13 ema was crossed which gave support to the .236 fib. I am using the fib channel for CRON since they Got 2 Billion in the Bank and have bankers on the board which I suspect CRON to continue a long term uptrend year over year. This could go two ways. break through .236 fib and find support at 7.50 about 2.5 B...
I haven't quite figured out yet why the price went up so much in the afterhours yesterday, but I think the the clue is in the pipeline SEC litigation from 2011. This was the first dark pool to be fined by the SEC
I am not betting for this stock to drop nor in favor of it going up.
With the MACD appeared to be seemingly showing signs that it wants to go Bull. It is not good enough.
The news might be saying good stuff about CRONOs, but the Canadian cannabis market is a disaster.
With the stock trading between the range and close to earnings report.
Unless the earnings...
Cautious of a potential weekly bear flag as the CRON oversold bounce is not getting any real followthrough. Currently trading in both a descending channel and a sideways channel, one will break this coming week
CRON - I am bullish here. Significant downtrend lately. Nice piercing candlestick with a nice looking RSI. MACD/Price action Bullish divergence. Might need a bit more time but I am watching for break of the downtrend and hold for confirmation.
* I really like this setup.
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