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CRON

CRON, Medium, 8 - 16 January Support and 5th Wave Confirmation!I looked once last time after utilizing the 50, 100, and 200 moving averages and adding a massive Elliot wave that encompasses months worth of price movement. The good news is that no matter how you look at it, this stock is bouncing predictably off of the upper and lower price channel and showing a general positive movement. Those 50,100, and 200 EMA's along with the historical support levels all line up to show that we are nearing the bottom of our consolidation and that the green or blue wave (4) patterns and subsequent (5) are the likely scenario during the month of January. We'll know by mid-month! G'luck!
NASDAQ:CRONLong
by martinlih
2
CRON - Head and Shoulders or Fibonacci Retrace?Everyone can see the Short Term Head and Shoulders Pattern, starting in August until now. A peak of $13.44, a push to $15.30, and losing steam rolled up to $13.00 before tanking. But let's say this H&S pattern was correctly called. Now what? We take previously charted trendlines, which are still unbroken. The bullish market for this stock continues long term, despite short term losses erasing gains. The H&S pattern dictates a potential loss equal to the vertical distance of the neckline and the head. Some have charted this around a $5.00 vertical, starting at $8.72. This should put us down to $3.72 area. However, if we draw a Fibonacci Retrace, since inception, we see a 61.8% Fib level which remains unbroken, at $5.96. I expect strong resistance at this level, despite the potential short term Head and Shoulders Pattern. As the market continues to be oversold, look for a bullish divergence to appear. My opinion, which is strictly my own, is that this stock becomes a good buy between $5.50-$6.00. Take a look at the past. Draw a quick Fibonacci chart for the first great gain. What does it do? It retraces all the way back to the 61.8%, just as it is currently. Afterwards, it skyrockets back up to the 88% Fibonacci Extension level, and starts consolidating for the next move. This will reverse and bounce, and either retrace back to the original neckline before coming back down, or will rocket past and upwards to the 88%, 100% level.
NASDAQ:CRON
by Shwayze