CRON low of Friday was just below the .5 retracement from low of consolidation to all time high 13.39. It had the weakest bounce Friday out of the big four, rejecting hard from the .382 dump retracement whereas other names hit the .5 or in the case of APH hit the .618. Watching the hourly chart for a break of it's tightening range to indicate short term momentum...
CRON is in a Bull Pennant formation and could go either way. News is big factor with weed stocks right now. Legalization has been delayed, prices are going sideways. If this breaks up, looking at $15 for resistance at ATH's. If Pennant breaks down then green box is the buy zone.
NASDAQ:CRON has been consolidating in this range for months now, creating a very noticeable Bullish Triangle. Will be looking to enter at around $5.75 (triangle support). Possible Outcomes: - Triangle Breaks and follows thru to +- $8 area with a huge profit of +40%. - Triangle fails to break , we fall back to the $6 (would sell before going bellow $6.30)...
Cron might be about to 'get high' it looks like it is losing downward momentum on the MacD indicator, the RSI line is nearing the bottom and it is also getting closer to the bottom bollinger ban. It might still have a few days to go in order to hit bottom but price looks like it is already starting to level off from the down swing. Might be a good entry point....
Cronos is a great test-case for what happens when a Speculative OTC stock goes to the big time market. They shot up 30% in the days after it went from OTC to the NASDAQ on some HUGE volume. I personally like Cronos a lot. Mike Gorenstein seems like an excellent CEO and they are setting themselves up really nicely in terms of the international picture. HOWEVER....
After taking a tumble, hoping for it a bit sooner, we can see that TSXV:CRON has bounced off support just north of the 61.8% Fibonacci retrace. This and strong buyer volume, leading to a strong close at +12.41%, with a green candle with no top shadow. There may be a bit of resistance and possibly slight pullback at ~11.74, but if volume stays the way it does, I...
Stocks are the only time breaking your neck can be a good thing. But it is usually scary for a bit afterwards. Some big volume came in and sent us shooting right past the 78.6% retrace, but right back down again as volume petered off and we look for support. Today did close with a minuscule green candle, sporting a small shadow. This could mean we might test the...
MJN breaking through falling channel after being added to the Nasdaq. Good chance to continue upward trend. Look for pullback entry point
Stocks | Cronos Group INC | MJN Sure Buy