5.50 bounce for great risk / reward setup
Updated
As you can tell I don't have many indicators or trend lines as none of them really matter besides these 2 strong trend lines. We are coming down slower than CRON came down in the past and bounced at 5.50 which means we shouldn't break 5.50 as it won't be a strong punch (hopefully). Either way if you set a stop loss at 5.40 or even 5.35 in case a lot of stop losses are sitting right at 5.49 there is a great setup here. In the past this has gone from 5.50 to 7+ dollars every time its been tested. I will be loading up around 5.50 and giving it a shot. If this comes down slow and hits 5.50 support we should break that downtrend and have a nice rally as it will be around earnings which could really make or break that 5.50
Trade closed manually
News as completely changed the stock trend. now above that nasty downtrend and should see a nice little run before ER. I don't see this getting back below 6.00 for now
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