CRON Looking ImpulsiveI really like how this looks here. We may see a retest of upper resistance and a break higher. If this happens, we would be looking at the blue impulse wave.
If it doesn't break higher, we would be following the red ABC, leading us down from here.
I am leaning to the bull side right now, but we need bulls on the ball on Monday.
CRON trade ideas
CRON Resistance About to be TestedYesterday I posted that my bearish count was invalidated, and it was. Zooming out, looking for clarity, I see a falling wedge that still would need one more low to complete.
If you know about the falling wedge, it is an extremely bullish setup. If we see rejection at the trend line today, place your orders at the gap fills and hold on tight.
As for my count, yesterday we made a C wave of a 3 wave move. If bulls can hold $5.87 and push into a higher high, the 3 wave correction (wave 4) will turn out to be impulsive, and that would invalidate this count.
CRON - Bearish Count InvalidatedPot industry pumps on Harris comments during debate.
Breaching into the territory of wave 1 invalidated my bearish count. I'm switching to bull.
Currently looking for a break above $6 with large volume, or gap closes down below. The current move looks impulsive, but could just be a WXY followed by 5 waves down. If it is impulsive, we should see a small correction before pushing higher.
Levels on watch.
CRON - Oversold RecoverySWING TRADE
CRON showing signs of a reversal from being oversold. I like this because of the high risk to reward ratio.
Reasons:
1) 6 Red bars down
2) MACD Cross over below 0
3) RSI recently crossed up 30
4) MA cross over
5) Within previous support range
Entry: 5.71
Target: 6.99
Stop Loss: 5.61
Risk Reward: 12.8
CRON is consolidating with strong support and Golden CrossWeed stocks are having bad years, and the election are coming up. Any candidate can bring up talk about nationwide mj legalization would be huge. Soon or later, US must legalize weed. Trump is big against Big Pharma, and he is behind Biden, it is possible that he would make this move to earn votes.
Please comments and let me know what you think. I am still learning and I welcome criticism. Thanks!
CRON- Will Price Drop to Gartley Target?CRON- has broke above the long term
(Blue) resistance line from 2019 highs.
We think price will pull back deeper than most traders think.
If the Gartley pattern (yellow) target is hit near the $5.37 zone, that would be a good signal for us to load up (buy) stock.
This target is slightly below the (green) Buy Line, showing us a great opportunity to go long.
If price drops below the Gartley point X, then pattern is voided