Hi, A bit of a cannabis sector review and shooting the sh...on indicators and strategy. Enjoy!
Possible stop under C. Divergence is when the price of an asset is moving in the opposite direction of a technical indicator, such as an oscillator, in this case RSI but other indicators can be used. Divergence is a concept that can allow a trader to see a possible reversal in the direction of price ahead of time. Generally, an indicator will move in...
CRON bouncing off support with bullish MACD and daily Stochastic momentum. Weed stocks are likely to reverse in the coming weeks, especially as the market as a whole reverses. If it breaks $10 it can go 11.6+ . Bearish under 8.9. IV relatively low, so go with a debit play.
I’m going to swing CRON and sell prior to earnings on 2/26
Expecting $12M to $15M, which would be very good indeed, but investors don't understand Cronos' business model. Are we looking at a WXY, or will the Y morph into a motive wave? Everybody expects that drinks are where the money is. Do we really want to be long smokes? Dunno... just saying.
Really good R/R, even if stopped out, might want to look to re-enter at another decent spot
Plenty of support zones from fibonacci levels, trend lines, and previous resistance. I'm expecting pot stocks to generally remain bullish for 2021, just look for healthy corrections from time to time like I've illustrated here. $8.50 might trigger a lot of stop losses so keep an eye out if we get to those levels.
Looks very bullish to me, got golden cross, and good thing is it always goes with lower low, need higher high for near future
Cron Long position. After a retrace suprassing 0.618 a retest of support is underway. A close above entry opens up Fib extensions to 17.30 Target. Previous high is current target before a move up.
This could essentially be the beginning of multiple cannabis-based stocks to increase within the next 6 months.
3/Feb/2021 09:30 AM AUTHOR: Brandon Gum -- ======================