CRON consolidation is healthy so farWatching CRON consolidate on lo volume and breaking supports without much followthrough. Keep an eye on the potential for a gap fill on the daily chart
CRON trade ideas
Marijuana how deep is your love?)The crazy growth of the cannabis sector is amazing, X's in a short amount of time). Will there be a repeat of the history of Bitcoin, a sharp rise and the same sharp drop of 80-90%? Logically, the correction should be, let's see how deep.
1 option
Sell short 11 $
Stop 13 (-15.5%) - a big stop, but significant priorities, you can enter in parts as the price moves in the right direction
Profit $ 3 (70%)
Option 2
Sell short 6 $
Stop $ 6.6 (11%)
Profit $ 3 (50%)
Possible to drop to $ 1.5
CRON in a sideways channel with a bear flag setup. Gap to fill Watch CRON for a potential bear break of the hourly bear flag. Gap to fill on the daily chart from the investment announcement.
GAP-FILL opportunity on CRON - Short term profit CRON shows a nice gap-fill pattern as I highlighted.
If the stock trades lower on the pre-market, it'll be much riskier, so be careful.
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Cron may be starting long descent.Slightly overbought on the Daily and near the top of the channel. CRON is getting ready for a large pullback.
I will be looking to buy in the $12 range which would start forming a nice equalizing pattern, though it will largely depend on what the indicators look like at that time.
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.
Cronos Bull Pennant?Not that familiar with charting, but this looks like a strong bull pennant to me...anyone agree/disagree?
Following all of the news, would seem that continued bullish movement after a small retrace/accumulation is pretty likely.
CRON DEAL WITH MO AND ITS PRICE ACTIONThink Cron headed to 20 with this breakout of 12.89 resistance and with a bid at 12.50 from the MO investment this is looking good long term. At least in the short run should see new highs if market co-operates.
CRONbuy pullback/profit taking
Goal of entry $12- probably wont pullback that far
My tacking-
entry around $12
max risk $1500
stop loss approx. $0.50
3000 shares = $36K
Short CRON, look for $6.80Lower highs and lower lows is a consistent trend. Marijuana stocks are missing earnings badly and overblowing estimated demand from Candian consumers. Companies like CGC and TLRY are badly missing Street estimates and continue to trade at ridiculous valuations w/o numbers to back them up. CRON market capitalization is $1.46 Billion when quarterly revenues are $2-3 Million! Major short but patience is a virtue.
CRON ramping back upCRON has been holding up nicely; respecting it's 200ema and in play *as always* above 6.9 to the long side
Okay I am Out for Now.....I Don't Trust it.I doubled down on my short at $11.30......I am hopping out now because I don't want to be greedy. Greed has cost me a lot of money in this game, so I have learned my lesson. Good thing is, I met my goal, and made my profit for the day. I played around with this stock twice, jumped out before the huge spike, and I will jump out now. I am done for the day. Good luck tomorrow guys.
Well Now.......No words for this unnatural price movement. You guys see this? Loading up on my short.
Took a risk and shorted again lol.So I took a risk and jumped back in to short CRON. I jumped out at 8.90 and jumped back in to short at 9.20, and boy was I right lol. I held again and it paid off. I am hopping out because I don't want to be greedy. Good luck out there guys.
Short?So Based on the pattern, CRON can't seem to push pass the resistance point. I shorted at $9.12, and so far so good. I will hop out in the next hour or so, as I do not hold over the weekend. Good luck out there guys.
Watching TGOD, OGI, HEXO, and CRON into next weekNice setups on a few names heading into next week
TGOD
S: 3.16
R: 3.41
OGI
S: 5.23
R: 5.65
HEXO:
S: 5.65
R: 6.19
CRON:
S: 7.70
R: 9.08
Cronos relative potentialCronos market cap. 1.2B vs Canopy Growth market cap. 7.8B and Tilray market cap. 8.4B
Has relative potential to grow in comparison with Canopy Growth and Tilray.
Long term idea without predefined stop loss and target profit.
Disclaimer: not investment advice, not qualified licensed investment advisor, author may have positions in mentioned assets.
Bearish CronosThe short term bearish trend challenged all the floor lines that were suggesting an upward trend.
Now it is time to wait for it to either truly reach the MA 40 or to actually touch the MA 100.
If it touches MA 100, would suggest a BUY opportunity based on my experience. However, it is always wise to wait for a bullish candle before making a decisions.
PD: Cannabis stocks are incredible volatile.
CRON - 618 headed to 500 retrace9.05 headed to 9.80 range with mid-term elections giving positive vote.
Short this
Cronos group hit resistanceJust sold $Cron @ $9.00. Probably it is coming back to support now (200MA). Let's wait next midterm elections, because if Democrats win representative it would be a big boost for Marijuana's related stocks.
