CRON and MO Deal - Dilution Could Trigger Correction Period
The next few days are critical for CRON as the MO deal will signal to the shareholders where this company is headed. Either way, any dilution or sentiment thereof could trigger this thing into correction territory. Looks to me like we've had 2 waves thus far within a larger cycle present since the inception of the ticker. I'll trade the reaction either way, but am in no way long-term on this company.
I have a love-hate relationship with CRON, as it's parabolic and over-extended. Previous shorts were a success, but pull-back was much more ferocious than expected and stopped out on squeezes.
I'd be bullish if the fundamental factors didn't depend so largely on international trade agreements and hopes for US legalization. The catalysts are strong in sentiment, but hyped as far as the numbers play out from any serious economic analysis I've seen. Would love to be shown otherwise though! Some call it the big long, I'm looking to short the pull-backs for now. If US legalization occurs, that will be another story.
- MACD cooling off
- RSI cooling off
- Room for another leg-up
- Lots of room for another leg-down
- Good luck!
I have a love-hate relationship with CRON, as it's parabolic and over-extended. Previous shorts were a success, but pull-back was much more ferocious than expected and stopped out on squeezes.
I'd be bullish if the fundamental factors didn't depend so largely on international trade agreements and hopes for US legalization. The catalysts are strong in sentiment, but hyped as far as the numbers play out from any serious economic analysis I've seen. Would love to be shown otherwise though! Some call it the big long, I'm looking to short the pull-backs for now. If US legalization occurs, that will be another story.
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