Cresco Labs - Record $210M Q2 Revenue - Cannabis Reform Goodbye Drug Wars. Jobs & Justice. #cannabisboom2021 & beyond. #MSOgang
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Crescolabs
Cresco Labs investment Idea Fundamental side of the idea:
For the full year of 2020, Cresco saw a whopping 271% year-over-year increase in revenue to $476 million. The company's retail revenue for the year grew to $202 million, up 316% year over year. Much of the credit goes to its Sunnyside retail platform, which, according to the management, generated average revenue per store of $3.6 million. Cresco has 10 Sunnyside stores in the new emerging cannabis market of Illinois. ) Its fourth-quarter (ended Dec. 31, 2020) revenue also jumped a massive 292% year over year to $162.3 million.
Another quarter of positive adjusted EBITDA (earnings before interest, tax, depreciation, and amortization) net of biological assets of $50 million is an impressive jump from $2.8 million in the year-ago quarter. It also reflects how well the company has been handling its operating expenses. Cresco's 2020 was a reflection of what's to come in the next few years, according to the management.
Technical side of the idea:
Since the price has hit an all time high(22CAD), it has been decreasing / and retraced to 0,61 Fibu level. As long as the price is Rebounding exactly on 0,61 Multiple times we should consider that there is a big Possibility for the Price to Move higher. I am expecting that the price will continue to increase to 80USD in the next two years, after breaking the 1,61 Fibu level ( which is going to be the new resistance ).
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S.Sadki
CRLBF S/R Flip|Structural Support|Trend Change|Bull Volume NodesEvening Traders,
Today’s Analysis – CRLBF – showing signs of a confirmed trend change, holding structural support will establish another higher low.
Points to consider,
- S/R Flip at structural level
- Structural resistance (Immediate target)
- RSI Cooling off
- Stochastic in upper regions
- 21 Moving Average (Visual guide)
- Increasing bull volume nodes
The trend change on CRLBF has been confirmed with establishing its first higher low. Now trading above structural support, consolidation above this level will further solidify the S/R flip.
The 21 Moving Average can be utilized as a visual guide as CRLBF has been respecting it in the immediate up trend.
Current increasing bull volume nodes is a healthy sign for the trend change, must sustain with establishing another higher low.
The RSI is cooling off from oversold conditions, a retracement to the 50 level is probable if price starts to consolidate above support.
Stochastics on the other hand is in the upper regions, can remain trading here for an extended period of time with stored momentum.
Overall, in my opinion, CRLBF is in the midst of a trend change. Holding structural support is critical for a new higher low. A long trade is valid with defined risk below structural support.
What are your thoughts?
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And remember,
“A probabilistic mind-set pertaining to trading consists of five fundamental truths. 1. Anything can happen. 2. You don’t need to know what is going to happen next in order to make money. 3. There is a random distribution between wins and losses for any given set of variables that define an edge. 4. An edge is nothing more than an indication of a higher probability of one thing happening over another. 5. Every moment in the market is unique.”
― Mark Douglas
Cresco Labs - possibility of more than 10% growthCRLBF seems to be tracing a minuette 3rd wave of minute wave 3. In this scenario, prices should reach higher levels than 4.00. FOLLOW SKYLINEPRO TO GET UPDATES.
