Will be adding (starter) Aug 17th: 7.5 calls
Pot stocks are on the move. Summer is going to spawn a lot of fundamental info for $CRON - including growth. Just under %2800 more demand YoY for marijuana alone. This puts $CRON at the forefront of pot stocks.
4hr demand level + trendline + ascending triangle (some may disagree; bullish sign)
2018 is the year of legal weed in canada; listed on NYSE a few weeks ago as well so us americans can get some decent exposure too without having to fuss with the TSX or OTC nonsense. I see a breakout of the ichimoku cloud, a fractal breakout being called by williams trader beta, and also a trend breakout. Wouldn't surprise me if we dip and test the pennant again...
Marijuana industry is about to boom again, after legalization in Canada the pot industry will move at an almost exponential rate, especially when the U.S decides to legalize marijuana federally in the next 6 years, depending on who is in office.
06/21 - $7.73 is a crucial pivot point, needs to break this current resistance with volume support, to move north It formerly broke the blue wedge for a nice gain, purple wedge is poised to be broken...will it continue to play inside the wedge with lesser bull AND bear volume, leading to consolidation? Usually, not always, usually this allows the stock to flex...
Looking for CRON to base here and break up and out of triangle.
Another potential breakout preceded by a volume spike. Looks good. Look for the right moment to join the trend once the breakout is confirmed
$CRON obeyed the downtrend. Sector wide sell of after the Canadian Senate vote.
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.
Nothing but bullish for the cannabis market right now, especially since the recent approval of Bill C-45. There's been a little bit of news selling, which has set up and ideal buying opportunity. I went long at $6.77, but now is still a good time to jump in imo. If you wanna be safe, wait until we break out of the Triangle. Stop losses set $5.48, but overall I'm...
Technicals - Solid pattern - Oversold a bit, deffinatelly more room for a sell off - MACD tightening up - 20day MA soaring above 100 and 200 day, look for crosses Fundamentals - Canada vote on recreational marijuana coming up soon, anticipating a pump if polls are still bullish - First Canadian mmj company on NASDAQ - Annual sales up from 588k to 4m+ in...
The price broke the triangle pattern upwards on the weekly chart with rising MACD histogram. On the daily chart (shown), breakthrough of resistance with high volume is the entry trigger.
Based on the daily chart I see a lot of weakness. EMA fibs shows a time of uncertantiy it can turn either way, however, it is facing resistance (mind you that the trend line may not be super clear, but you get the picture). I am placing a PUT that expires 6/15. Stochastic RSI market strucutre shows a "M" formation which is bearish imo Volume is weak I will...
Watching this equilibrium tightening. Waiting for a long or short opportunity. Indicators: The price is rejected from the 50-D MA since 2018-04-24 Closest resistance: 8.46 on 2018-05-22 Closest support: 7.37 on 2018-05-17 If one of those break, I will consider to start building a swing position. * Horizontal lines are support/resistance price level *...
Checking out the MJ sector of the markets. Here is my take on whats going with this stock. Enjoy :)
CRON has been in a tightening pattern for several months now, and is now getting extremely tight on the lower time frames. Although these tightening patterns usually are fairly neutral, personally I am leaning bullish, due to TSX:WEED recently breaking bullish from a very similar pattern. Zooming in on the Daily, there are more key levels of support and...