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CRLBF

Cresco Labs Analysis 12HRHello Everyone, With President-elect Joe Biden set to take office in the new year, marijuana stocks may gain some positive momentum. My prior analysis back in June of this year predicted a consolidation followed by a breakout (see below). It now seems price has entered a more bullish territory. Now may be a time to consider additional long positions. On the 12HR price chart, price appears to have just completed a 5-wave impulse upwards. Price is also nearing the top of the ascending channel it has been following. Following a correction wave back to the bottom of the ascending channel, another impulse may occur. Entry consideration would be considered when price descends back to the bottom of the ascending channel which also coincides with the .618 Fib-Level. Thanks for reading and please do your due diligence before entering trades. *This is not trading advice but my analysis of the market place*
OTC:CRLBFLong
by pofseur
CRLBF Trade Plan/AnalysisGood Afternoon Traders, Due to the recent earnings report released by CRLBF and possible formation of a new Support, the recent upward trend may continue to a new Resistance. The Cannabis Industry has been releasing positive Quarterly Reports during the ongoing COVID crisis. This may prove Cannabis to be a more inelastic good than previously thought. On the technical side, a new Support may have formed around the $4.26 range. It does not appear the trend will continue without a short-term pull-back. Bearish Divergence has formed on the 1D MACD/Price Chart. The 1D RSI is also in Overbought territory. This may be signaling a short-term pull-back/consolidation. First entry consideration would be taken if the RSI forms a lower-low and Hidden Bullish Divergence forms on the RSI/Price Chart. If RSI does not drop low enough to form a lower-low, second entry consideration would be taken when price closes above the current Resistance around $5.20 Thanks for reading. If you liked my analysis, please give me a follow. *The above is not investment advice but simply my analysis of the current market conditions*
OTC:CRLBF
by pofseur
CRLBF S/R Flip|Structural Support|Trend Change|Bull Volume NodesEvening Traders, Today’s Analysis – CRLBF – showing signs of a confirmed trend change, holding structural support will establish another higher low. Points to consider, - S/R Flip at structural level - Structural resistance (Immediate target) - RSI Cooling off - Stochastic in upper regions - 21 Moving Average (Visual guide) - Increasing bull volume nodes The trend change on CRLBF has been confirmed with establishing its first higher low. Now trading above structural support, consolidation above this level will further solidify the S/R flip. The 21 Moving Average can be utilized as a visual guide as CRLBF has been respecting it in the immediate up trend. Current increasing bull volume nodes is a healthy sign for the trend change, must sustain with establishing another higher low. The RSI is cooling off from oversold conditions, a retracement to the 50 level is probable if price starts to consolidate above support. Stochastics on the other hand is in the upper regions, can remain trading here for an extended period of time with stored momentum. Overall, in my opinion, CRLBF is in the midst of a trend change. Holding structural support is critical for a new higher low. A long trade is valid with defined risk below structural support. What are your thoughts? Please leave a like and comment, And remember, “A probabilistic mind-set pertaining to trading consists of five fundamental truths. 1. Anything can happen. 2. You don’t need to know what is going to happen next in order to make money. 3. There is a random distribution between wins and losses for any given set of variables that define an edge. 4. An edge is nothing more than an indication of a higher probability of one thing happening over another. 5. Every moment in the market is unique.” ― Mark Douglas
OTC:CRLBFLong
by AzizKhanZamani
9
ACB - I've deleted it from my daily watch listThey expect their new shelf prospectus and reverse split to be completed on May 11. Based on last week's market cap, we would be looking at 35% dilution, but after yesterday's sell off, it is getting closer to 50%. I had a buy box for a bounce play, but for the time being, I will be avoiding ACB like the plague. ACB and CGC, they once were kings of a promised land, and then, it all went bust. My money is safe with APHA, XLY, LABS, VLNS, and the USA based MSO's. Not with Acreage though. Perhaps I sound cynical, but this is a tough time for cannabis investors, and it requires a tough attitude and strong opinion. I act on what I see, not on what analysts tell me. One even suggests ACB is still a buy. Fundamentals and business strategy are key, and both CGC and ACB are lacking, for the time being.
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by Barkworth
2
CRLBF - What to Make of It?This company is still so young, it is hard to find levels of confluence and targets. I figured to just draw FIB chart from $0 to the top, to see how that would look, and it seems to provide more than just a few levels. I don't want to go out my way to analyse this asset before I'm certain that a bottom is in. Currently still trading below MA20, and I think it should at least break that before we can consider this as a bullish bet. It certainly recovered nicely from recent lows, but with $2 being a clear psychological level, perhaps the final low could be at $1.50. I would certainly be a buyer. I love Cresco Labs. Excecution, fundamentals, spread, moat, even value, it is all there. Earnings coming up in about a month or so. This one is definitely my favourite MSO, together with Trulieve. Green Thumb Industries gets all the hype, but its fundamentals aren't very good. Perhaps that is why it is making all the noise. Cresco Labs, levels on watch.
OTC:CRLBF
by Barkworth
1
CRLBF merger with Origin House CompletedI'll be receiving my 0.71 Cresco Labs shares for every Origin House share I owned. I bought them at a discount, so I am very pleased that this merger is closed now. What is ahead for Cresco? Completion saw a small sell off, which I think could be expected. Not actually sure. Perhaps it was just the broader market playing it down. I think there is a bull thesis for CRLBF which is supported by the indicators. We're looking at a bullish M continuation pattern, hoping for confirmation on Monday and the days to come. If this pattern confirms, we could see the $8 resistance tested.
OTC:CRLBF
by Barkworth
CRLBF Key Resistance | Trend Reversal? Hello Traders! Today’s chart update will be on CRLBF – CRESCO LABS INC, potential trend reversal if local resistance is broken. Price is building up near resistance, is a break imminent? Points to consider, - Trend bearish, attempting a higher low - Support provided by the EMA’s - Local resistance being tested - Stochastics projected upwards - RSI respecting support line - Bear volume decreasing - VPVR spikes in volume, confluence with Fibonacci Retracement and Extension levels. CRLBF right now is attempting to break local resistance, a key level in the trend, when if broken will confirm a trend reversal as this will put in a local higher low. Support is currently being provided by the EMA’s, there has been a bull cross, price is holding near resistance (build up), this signals strong buy pressure which increases the probability of a breakout. If a breakout was to come to fruition, the technical target will be at structural resistance; this area is of heavy confluence as it is a key technical level. We have the Fibonacci retracement, .50 level; in confluence with the Fibonacci extension level 1.414. A test up to and retracement from structural resistance will put in a healthy higher low for the overall trend. The stochastics is currently projecting upwards; momentum is stored for a breakout. However a rejection from current area will have the stochastics in favour of the bears due to more downside room. The RSI is respecting its trend line, needs to hold for a breakout to come to fruition, it is currently trading in neutral territory, we are not in extreme overbought/sold regions as of yet. Bear volume is visible decreasing, we can see strong bull volume in current level, this signals that buying pressure is greater than selling pressure; bulls have a greater probability of breaking out from here. The VPVR is quite interesting, its cluster of transactions increases near structural resistance. This level is a very good technical target for CRLBF, due to confluences from the Fibonacci Retracement Level .50 and the Fibonacci Extension level 1.414. In other words the more technical confluences within an area, the more significant that area will be once tested. Overall, IMO, CRLBF is probable to reach its technical target due to strong bull volume near resistance. This will allow the stock to put in a higher low, changing the overall market structure… What are your thoughts? Please leave a like and comment, And remember, “Trade What’s Happening…Not What You Think Is Gonna Happen.” – Doug Gregory
OTC:CRLBFLong
by AzizKhanZamani
ACB Moving into Earnings todaySlight bearish convergence on the Stoch, and also RSI indicating a possible hourly pullback. Earnings are guided, so the revenue figures are not very likely to drive the price upward. We're looking for profitability. ACB predicted Q4 profitability. The press release issueing earnings guidance only mentioned that they are moving closer to achieve positive EBITDA. Any disappointment on that front will see ACB retest key support at $5.89, and possibly the lower $5 range. ACB is currently at the top of its downtrend channel, after a nice bounce. Bulls are looking to break $6.30 on large volume to see the price move back up to test $6.65 and $6.83. Regardless of all the positive news and change in broader market sentiment, not a single pot stock has posted a higher high above a long term downtrend. I feel that all of the past few days' moves, has been correctional, and not neccessarily bullish. I do feel, however, personally, that the current price levels present excellent buying opportunities for long term investments. If your time span is 4 to 5 years, then ACB, APHA and CRON are buys. CGC, on the other hand, could still have significant downside. I think that the King of Cannabis is about to be de-throned. Has anybody considered Creso Labs, btw. No debt, pure USA play, excellent pressence, and much worth a closer look. Please share your thoughts?
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by Barkworth
7