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CRON

CRON Bubble Popped: Fibonacci Retracement InitiatedThis sure looks familiar, doesn't it? CRON has a lot more going for it than TLRY, but we still lack justification for this recent rush up. Too high maaaan, it got too highhhh. Notice the uptick in buying and selling volume here recently - this is typical in the end of a bubble cycle. Also notice the downward cypher pattern we are setup to form. Bought a 50 delta, March 1st put on it - expecting to hold till around the $16 level. If you hop on the short train, be ready and be careful; this is about to be a wild ride.
NASDAQ:CRONShort
by Derivati_Capital
3
CRON Wave AnalysisAs charted in today's YouTube video, full details on how I arrived to the counts there. Cronos is one of the older assets in a young market. On a long term view, I believe it's in the final waves of it's current cycle. However, that doesn't mean that it can't make significant new highs. It appears to be forming a flat continuation pattern here. With fundamentals coming into play, pot stocks could well be the next parabolic rise. Overall, the equities within the market have yet to break market structure of higher highs. Once that market structure is broken, I would expect a multi-year bear market. However, for now, fundamentally, I don't see how it would start today. To play the flat, look for a confirmed lower low on low time frames to draw a downtrend line similar to the blue one pictured. Look for a break of that downtrend and buy any consolidation.
TSX:CRONLong
by ThePuma
4
TLRY Bear Break -10% Profits already!Dear Cannabis Sector friends! In our previous TLRY idea we had asked ourselves: Can TLRY repeat what EOS from crypto space did already? (See the link below) The answer is: Yes . And this is the beauty of Technical Analysis: No matter where you go, which market you wanna play, human psychology never changes. A beautiful descending triangle gets broken bearish, which was the most likely scenario -with 10% profits already. We have now reached the previous lows at 70 psychological and could definitely see some bounce going from here, since Hourly RSI is completely oversold. Also, always check correlation to sector leaders like CGC, CRON, etc. But should we keep going lower: You should be very comfortable with your trigger under 75,25 at the latest. Also key takeaway from here: We had broken the ascending bearish trendline earlier, and only after the price level break, we saw the flush incoming. While trendlines work good in the stock market esp. on bigger names, in crypto/cannabis space & with lower volume names, you always wanna see the Price Action & S/R level breaks. If you had some value from my analysis, give it a thumbs-up & comment it, because the mechanism shows my analysis to other people then. Make also sure to follow me so you get notified on my Crypto Analyses! I wish you a good trading! :) Edgy is providing online education & tools only. We are not a financial advisor, nor do we hold any formal qualifications in this area. You're trading at your own risk. No matter what you do, please set your stop loss. Please be aware, that you can lose all your money on the online exchanges.
NASDAQ:TLRYShort
by Edgy_
2
The Cannabis Sector is coming!Hello my dear Cannabis sector fans, but also to my usual Crypto friends: Pay attention now! The legalization of Cannabis is coming from left an right, and obviously, what had started in Canada, will not just stay there. The US is the next huge market, and after that comes Europe. Some of the Canadian Cannabis companies have seen huge run-ups already, but this isn't the end. We are currently far from normal legalized consuming. So: Once my course comes out, I intend to do much more analyses to the Marijuana sector! Stay tuned :) Give it a thumbs up so other traders will see this important information! :) Comment it if you have another info or just want to tell your opinion! Make also sure to follow me so you get notified on my Crypto & Cannabis Analyses! I wish you a good trading! :) Edgy is providing online education & tools only. We are not a financial advisor, nor do we hold any formal qualifications in this area. You're trading at your own risk. No matter what you do, please set your stop loss. Please be aware, that you can lose all your money on the online exchanges.
V
by Edgy_
THE WEEK AHEAD: RIG, CRON, IQ, CZR EARNINGS; OIH/XOPEARNINGS: RIG (30/54) announces on Monday after market close; CRON (18/98), Tuesday before market open; and CZR (45/58) and IQ (22/64) on Thursday after market close. RIG Setups: Given its size (8.93/share as of Friday close), only a short straddle makes sense for a nondirectional play. Unfortunately, the March 9 only pays .96, making a 25% max take profit a marginal trade. The April 9 pays more (1.44) with a 25% max of .36, which doesn't exactly rock my socks. CRON Setups: Pictured here is a 16 delta short strangle in the April expiry which is preliminarily paying 1.87 at the mid (.93 at 50% max) with a delta of .55 and a theta of 3.68. The March 16 delta at the 17/28 was paying .93 (.46 at 50%) with a delta of .84 and a theta of 4.74. For those of a defined risk bent, I'd probably go out to April for more room to be wrong: the April 18th 14/17/30/33 brings in 1.10 preliminarily (.55 at 50%), delta 4.26, theta 1.05. CZR Setups: Like RIG, CZR is on the small side (9.15 as of Friday close). The March 9 short straddle is paying 1.12; the April, 1.52 (another non-sock rocker). IQ Setups: In spite of its sexy background volatility, single strikes aren't available in either the March or April monthlies, making this underlying particularly pesky to work a nondirectional like a short strangle or iron condor with "surgical precision." Consequently, I could see taking a bullish assumption shot either via short put -- the April 20 (30 delta) is paying 1.13 with a downside break even of 18.87 (a 13.4% discount over current price), or the April 25 short straddle that pays 6.38 with a 39 long delta metric and break evens of 18.62/31.38. A May 25 short straddle may be available next week post-February opex, which would present a flatter delta metric for the 25 short strad than the April setup. EXCHANGE-TRADED FUNDS The top five ranked by implied: UNG (51/57), OIH (22/31), XOP (17/30), EWZ (13/30), and USO (15/30). Although ranks are generally at the low end of their 52 week-ranges given the volatility spike we experienced in December, I'll continue to sell nondirectional premium (short straddles, generally) in my petro go-to, XOP, albeit using a smaller numbers of contracts than when background volatility was higher.
NASDAQ:CRON
by NaughtyPines
CRON Earnings PlayLots of hype and positive sentiment should move all MJ names to the upside into the following weeks, CRON is no exception. CRON is set to post earnings pre-market on Friday, 2/22/19. As of Monday, 2/18/19 according to the OPTIONS chain, speculators are more interested in the CALLS @ $23.00 strike price with volume at 1742 as open interest is at 1665. As of the date of this writing CRON is a mere 16.42% from All Time Highs with just a few levels of resistance to punch through. Looking at the daily chart those levels are $21.89, and the physiological levels, $22.00, 23.00 and $24.00 respectively. If you look at the weekly its been nothing but green candles from October 2018 (Canadian Legalization), then the Earnings report on November 13 (which were not that strong) all the way up to week before last when a red candle printed. Revisiting that previous red candle week we see that we gapped up at the open into blue sky breakout and made it all the way to $25.10 ATH just after lunch time. At that point consolidation was in order settling down to put in a lower low. With the exception of a few outlying lows, since February 6 we have been in a tightening range on the 1 Hour chart moving into this week indicating to me we are about to pop one way or another. Outlook: Moving into the earnings to be reported pre-market this Friday we can't ignore the increased selling into close last week. RSI levels are cooling off, and by zooming into the 5 minute chart we can see we have some work to do at the open tomorrow 2/18. We have solid support down at $21.22 and all indicators reflect a possible gap up at the open and all eyes will be on how much resistance we can bust through by the time the algos figure out a direction for the day. For me I will be eying the MJ sector overall strength (CGC, ACB, TLRY and MJ ETF) to gauge sector strength and closely watching the SPY as it continues to provide tailwinds with its continuous strength. The play I'm looking for will be to buy cheap Calls if we fall through support. I will look to buy the $22.50 Strike Calls into strength or perhaps scoot up the chain to the $24.5 strike if we break through $23.92 resistance. Full Disclosure: At the time of this writing I do not have a position in CRON. This trade idea is for educational purposes only, I am not a financial advisor, do not follow me or anyone else for that matter blind into a trade. No one loves your money as much as you do, do your own due diligence and seek professional financial advice when necessary.
NASDAQ:CRONLong
by DannyJack
Don't Buy When High. Wait For These Supports First.This chart shows the support levels that we are waiting for in order to sell more put options in our cannabis portfolio (green boxes). The evaluation goes beyond just reaching a support level because it also involves analyzing how price reacts when it gets there. For example: IF a bullish pin bar develops at one of these specific supports, then we have a good reason to sell a put. One of the reasons our cannabis portfolio has done well is because of the inflated premiums offered by these relatively cheap stocks.
NASDAQ:CRON
by MarcPMarkets
2
CRON update - CHOP Current Pos: Short Apr18 $20 USD puts. Scaled down to 1/3 Position Friday Close. Idea: Locked in profits from Short in case of bullish ACB earnings (Guide down could pull an AAPL). if ACB bullish, looking for bounce to play weekly calls intraday. Will reload puts on strength, any rally likely to fade going into CGC earnings. Still a good chance this runs into CRON earnings (est Feb 22nd) sector sentiment still divided. Macro eyes on China reopening and possible gov't shutdown 15th.
TSX:CRONShort
by cappercaper