Cronos Group Inc. (CRON) long.All description on the chart.
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CRON trade ideas
CRON - Two Tries & Fail Trade- CRON had a 300% increase in price between 2018-2019
- Followed by a seemingly healthy technical correction reaching the 618 Fib level
- Now, price has attempted to break that level twice, and failed
- On RSI, trend-line was broken and new higher low formed
- It has also formed a textbook bullish candlestick pattern on second attempt
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- Therefore two trade ideas can be generated with entries and stop loss being based off
the supporting demand zone or the candlestick pattern.
- The candlestick pattern allows you to risk more and take profits quicker, by having a smaller stop loss and allowing a higher number
of shares to be bought, but comes with higher risk of volatility taking out this stop loss before profits can be realized
- Risk may be placed on ONE idea or DIVERSIFIED into the two trading plans.
- Both trading plans have their own stop loss and both meet their individual required limits of at least 1:2 Risk/Reward
Disclaimer: Always ***measure & accept*** potential risk before entering any trade.
CRON Flag BreakoutCRON is now breaking out of it long term flag pattern. The 9,20 and 50 day moving averages are converging nicely under the price action. The long term consolidation pattern within the flag will lead to more momentum behind a breakout. Looking for a potential 10-13% move before it runs into upper resistance range. Earnings are released August 8th, will want to sell before that point regardless of profit target being reached or not.
Wait!I am not betting for this stock to drop nor in favor of it going up.
With the MACD appeared to be seemingly showing signs that it wants to go Bull. It is not good enough.
The news might be saying good stuff about CRONOs, but the Canadian cannabis market is a disaster.
With the stock trading between the range and close to earnings report.
Unless the earnings report is super positive, I don't see any reason for this stock to raise.
Only chance for a buy in my opinion:
1/ MACD showing clear signs of bullish momentum.
2/ Positive earnings report.
3/ Breakout of resistance level.
Until then, keep waiting. :P
CRON .. you are high...I have to go with what the chart says here.
I do not see any evidence of positioning
No high volume reactions in the low ground.. or very limited..
I would contend that this is still bearish and needs news or something to get it some life... of maybe all the capital moved back to crypto? Its almost as if the money goes back and forth...
GL
CRON . BTC's ugly step brother...(TGT practice)Downtrend. TR hovering IVO (in vicinity of) FIB re-trace... looking for volume reactions at the edges...
better volume detail using the 15 or 5 minute.
GL
[Idea] CRON longThis is similar to the NIO chart I just posted, except on a much larger daily timeframe.
We can see that it's basing over a support level, and moving averages compressing.
As a major bonus, analyst at Hedgeye likes it:
app.hedgeye.com
I will probably look for a position soon.
Long on CRON after bounce off trend lineNASDAQ:CRON
Illinois recently made huge progress by being the first to legalize marijuana through state legislation. I think this is going to be the turning point for legalization across the United States, and potentially even federal legalization sometime in the next couple years. The whole gay marriage thing did something similar a few years back, and I think we're going to see the same thing here. Slow progress, sudden progress.
CRON just bounced off a trend line, and is heading towards a trend confirmation line. It may retest this lower trend line, but it will do so with a higher low. I believe we'll see this gain the 63% back to retest highs before breaking through on to new highs. This 2 year uptrend is mighty convincing. I think this is a great entry for a long.
CRON weak bounce, watch the hourly uptrendPotential daily bear flag on CRON, If we reject from breaking the high of the previous day and lose the hourly uptrend, that will signal a search for a new daily support. If this happens tomorrow that increases the likelihood of the daily bear flag playing out
quick flip 13 to 15I think this thing will take a dip under 13 this week on the H&S. Buy it at the convergence of the H&S target, bottom of schiff channel, support from top of wave 2, and bottom of falling wedge.
If you're buying options I'd just as soon take profit or sell covered short term calls when it bounces to the top of the wedge, I think it'll consolidate at best for the next month around the .618 retrace so why burn premium? Long term holders may wanna just hold it until it either breaks out or dump it on a breakdown past 12.50. Could it be a $30 stock before the end of the year? Yea sure, but I'd rather wait for technical confirmation and/or a legit fundamental catalyst.
CRON - Elliott Wave Count - Sideways 4th Wave Correction7/7 Current in W(IV) on the Weekly timeframe
- Yellow count is invalidated if W(IV) drops below W(I) at 13.95.
- White count is invalidated if W(IV) drops below W(I) at 11.90.
$cronFolks, I have to be honest. Canada is in a major repricing of their rated Euro Bonds and especially their currency. I would not imagine it to last much longer. When the tweets start.. Then buckle your seatbelts. We could continue to drop. This Stock ESPECIALLY. This stock trades directly to the Canadian Dollar. Yes. Cronos Group Hlds Ltd is a Public company in Canada. NOT the USA.
I would Expect to See a retest of previous June Lows of around the 13 Handle. I personally am not a buyer again until the 5's range. Thats right. 5.37. This Price would be indicative of a CADUSD rate of 1.27
Very low indeed. I have sold Calls against all my shares for income generation. Profits are in the 2 to 5 percent every month. Some of you own puts. #goodput
