Cronos Group Inc
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Trade ideas
The $CRON -ic is here to stay (Canada legalization)2018 is the year of legal weed in canada; listed on NYSE a few weeks ago as well so us americans can get some decent exposure too without having to fuss with the TSX or OTC nonsense.
I see a breakout of the ichimoku cloud, a fractal breakout being called by williams trader beta, and also a trend breakout.
Wouldn't surprise me if we dip and test the pennant again before we go up..
Decent RR here 3.5:1 (manage your risk accordingly)
GL HF
xoxo
snoop
BUY cron Marijuana industry is about to boom again, after legalization in Canada the pot industry will move at an almost exponential rate, especially when the U.S decides to legalize marijuana federally in the next 6 years, depending on who is in office.
CRON in control of its destiny06/21 - $7.73 is a crucial pivot point,
needs to break this current resistance
with volume support,
to move north
It formerly broke the blue wedge for a nice gain, purple wedge is poised to be broken...will it continue to play inside the wedge with lesser bull AND bear volume, leading to consolidation? Usually, not always, usually this allows the stock to flex north.
Currently, we see increasing bull volume pushing the price up to purple trending resistance. The bull candle has no lower wick, meaning no haggle on price, and the upper wick expresses confidence in the current stock price. $7.73 pivot point is crucial in that this price is where the stock broke outward and upwards, other times in history we see this price being too much for this stock to break through. Remember, stock brokers/investors will always look to the past to determine current price. This is why charting your resistance and support lines are essential in formulating an educated guess, because that's what stocks are, an educated guess.
*Let's see what happens!!*
DISCLAIMER - I am not a professional investor. These charts and ideas are merely my opinions. Please seek a professional for all your investment needs.
probable breakout with heavy volume aheadAnother potential breakout preceded by a volume spike.
Looks good. Look for the right moment to join the trend once the breakout is confirmed
$CRON perfect triangle $CRON obeyed the downtrend.
Sector wide sell of after the Canadian Senate vote.
CRON - Wait and See...CRON is in a Bull Pennant formation and could go either way. News is big factor with weed stocks right now. Legalization has been delayed, prices are going sideways. If this breaks up, looking at $15 for resistance at ATH's. If Pennant breaks down then green box is the buy zone.
CRON Setting Up!Nothing but bullish for the cannabis market right now, especially since the recent approval of Bill C-45. There's been a little bit of news selling, which has set up and ideal buying opportunity.
I went long at $6.77, but now is still a good time to jump in imo. If you wanna be safe, wait until we break out of the Triangle. Stop losses set $5.48, but overall I'm not worried if we dip below as I'm mid to long term in this market. Low to zero leverage is advisable due to the volatility of this stock.
I'm not a financial advisor, do your own due diligence before entering trades!
A case for CRONTechnicals
- Solid pattern
- Oversold a bit, deffinatelly more room for a sell off
- MACD tightening up
- 20day MA soaring above 100 and 200 day, look for crosses
Fundamentals
- Canada vote on recreational marijuana coming up soon, anticipating a pump if polls are still bullish
- First Canadian mmj company on NASDAQ
- Annual sales up from 588k to 4m+ in 1yr
Target
Around 12$, stop loss around 4.50
CRON broke thought the the downward-trend lineThe price broke the triangle pattern upwards on the weekly chart with rising MACD histogram. On the daily chart (shown), breakthrough of resistance with high volume is the entry trigger.
SHORT CRONBased on the daily chart I see a lot of weakness.
EMA fibs shows a time of uncertantiy it can turn either way, however, it is facing resistance (mind you that the trend line may not be super clear, but you get the picture).
I am placing a PUT that expires 6/15.
Stochastic RSI market strucutre shows a "M" formation which is bearish imo
Volume is weak
I will flip position around support area $3.30
Let see how this goes.
CRON-TSX Weekly/Daily EquilibriumWatching this equilibrium tightening. Waiting for a long or short opportunity.
Indicators: The price is rejected from the 50-D MA since 2018-04-24
Closest resistance: 8.46 on 2018-05-22
Closest support: 7.37 on 2018-05-17
If one of those break, I will consider to start building a swing position.
* Horizontal lines are support/resistance price level
* Trend lines are for visual purpose
Cron Structure AnalysisChecking out the MJ sector of the markets. Here is my take on whats going with this stock. Enjoy :)
CRON Tightening PatternCRON has been in a tightening pattern for several months now, and is now getting extremely tight on the lower time frames. Although these tightening patterns usually are fairly neutral, personally I am leaning bullish, due to TSX:WEED recently breaking bullish from a very similar pattern.
Zooming in on the Daily, there are more key levels of support and resistance to look at.
Long CRON Swing TradeNASDAQ:CRON has been consolidating in this range for months now, creating a very noticeable Bullish Triangle.
Will be looking to enter at around $5.75 (triangle support).
Possible Outcomes:
- Triangle Breaks and follows thru to +- $8 area with a huge profit of +40%.
- Triangle fails to break , we fall back to the $6 (would sell before going bellow $6.30) where we sell for a small profit or breakeven. Do not hold on and make this a losing trade.
Share your opinion, comments and questions. Good Luck!
Risk Level: High.
I will keep updating this post.
CRON getting ready to bounce off lower points of resistnace and Cron might be about to 'get high' it looks like it is losing downward momentum on the MacD indicator, the RSI line is nearing the bottom and it is also getting closer to the bottom bollinger ban. It might still have a few days to go in order to hit bottom but price looks like it is already starting to level off from the down swing. Might be a good entry point. They recently reported Q1 earnings which didn't seem to blow investors minds very much, they were probably hoping to see a profit (turns our investors like profit) but there was massive growth in sales, just large growth in capex as well that ate away profit. So I'm not really seeing long term concerns that others may have, in fact the company is expanding operations. Unfortunately it just costs money to do that. The high PE ratio is a little icky, but they have pretty good liquidity. Over a hundred mill in assets. Debt to equity looks pretty good.
CRONOS FINDING SUPPORT ON 200 day MAI think Cronos has found solid support off the 200 day moving average on strong volume.
I am definitely long medicinal and recreational marijuana companies in both Canada and US,
but you have to stick to those with solid fundamentals and long term strategies. Cronos has
shown attention to detail in both arenas and is continuing to build its portfolio.
CRON - 4:20 Time Anyone?With 4/20 tomorrow I thought this idea was timely. After a huge sell-off that coincided with the general market's decline during March, CRON looks to be making another run after finding support at $5.10. As you can see the FIB 50 resistance was too much for the first attempt, but CRON has consolidated nicely and has found support at FIB 38 retracement level setting up for another shot which should get through based on how volume has played out and the indicators. This space was talked about very favorably by the talking heads on CNBC and I expect CRON, WEED, ACBFF and the other players in this space to continue to fly HIGH over time :)
