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Cronos

CRON - ShortingDon't get me wrong, overall I am bullish on this stock. Coming up, however, we are due for a correction from a market driven largely by news / media. Check the financials. Keep in mind everything from 1/28 -> on could be artificial movement due to Kramer calling it out on TV. I would expect quite a big profit taking coming up, wouldn't be surprised by a drop of 38% from current rise ($14 price), or even more, before the strong resistance kicks in. I love this stock (bought in at $7.62 / pre Altria) but all rides up have their downs. 2 things to look at on longer charts. 1D, and 1W. Developing rising wedge - unavoidable from recent news attention. Bearish Divergence seen in the RSI. Overbought, and decreasingly so. My sell limit is at a conservative $20. However, it may be reasonable to expect a $22-24 price before the correction. I have charted a Fib Retrace from current low, expecting a 38% profit taking. Keep in mind, if the price goes > $19.50, the Fib Retrace needs to be adjusted for newer buy targets. Currently, I am looking at nice round numbers of $14 (best estimate), $12, or $10 (least likely). At least we have our Resistance levels marked, if there is a correction.
NASDAQ:CRONShort
by Shwayze
ACB 50/50 Probability - Breakout ModeACB NYSE is currently in the dead center of the bull flag trading range, and a converging triangle. This is where the directional probability is very close to 50/50. However the bulls have a slight advantage because it is a bull flag trading range, and there are bull gaps below. Prices are currently stalling at the failed bear reversal, where trapped bears may soon buy and contribute to a rally. However there is no valid but setup yet this week. The Bears want a test of the 5 low, and to fill the bull breakout gap. If this gap is filled, it will decrease the bull strength and prices will likely remain range bound for the next 20-40 bars. If instead the bulls keep the breakout gap open and form a higher low in the coming weeks, it will increase the probability of a test of the all time high and possibly bull trend continuation. But since prices are in a trading range, there will probably be some profit taking and short selling at a new all time high, unless the bull rally and breakout is exceptional. If you found this helpful, please like and share. Feel free to comment or ask questions.
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by tradersmentality
CRON 3.25.19Just digging into the #mj stock world. Looking at Cronos. Possible H n S pattern forming. Charts are fractal. We see repeating patterns. Maybe it's because the human brave craves form in repetition or maybe there's some deeper underlying level of connectivity. Either way we saw a head and shoulders play out earlier with very similar volume and RSI characteristics going along with similar price movement. We wait and see if it plays out here again. (It seems like the SPY has stronger correlation to the cannabis world then the crypto world so that is also something to be mindful of.) CRON looking fairly technical with what appears to be an impulsive wave up so far on the bigger chart. If that is correct then looking towards fibonacci levels during the correction seems prudent. Is the marijuana stock world another bubble burst or about to burst or just on the cusp of filling towardst a big old balloon of cash large enough for every one to get a huff before it finally eventually inevitably bursts? Time will tell... Keep on huffin -peyote
NASDAQ:CRONLong
by Peyote_Manning
CRON Wave AnalysisAs 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 coming into play, pot stocks could well be the next parabolic rise. Overall, the equities within the market have yet to break market structure of higher highs. Once that market structure is broken, I would expect a multi-year bear market. However, for now, fundamentally, I don't see how it would start today. To play the flat, look for a confirmed lower low on low time frames to draw a downtrend line similar to the blue one pictured. Look for a break of that downtrend and buy any consolidation.
TSX:CRONLong
by ThePuma
4
CRON update - CHOP 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 earnings (est Feb 22nd) sector sentiment still divided. Macro eyes on China reopening and possible gov't shutdown 15th.
TSX:CRONShort
by cappercaper