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Cronos

CRON bounce was by far the weakest of the major sector namesCRON low of Friday was just below the .5 retracement from low of consolidation to all time high 13.39. It had the weakest bounce Friday out of the big four, rejecting hard from the .382 dump retracement whereas other names hit the .5 or in the case of APH hit the .618. Watching the hourly chart for a break of it's tightening range to indicate short term momentum for this week, and helping to define levels for the daily tightening pattern on a macro level
NASDAQ:CRON
by McGuireTO
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.
NASDAQ:CRONLong
by Gerardovb98
13
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.
NASDAQ:CRONLong
by alexr451
Cronos GroupCronos is a great test-case for what happens when a Speculative OTC stock goes to the big time market. They shot up 30% in the days after it went from OTC to the NASDAQ on some HUGE volume. I personally like Cronos a lot. Mike Gorenstein seems like an excellent CEO and they are setting themselves up really nicely in terms of the international picture. HOWEVER. They haven't truly DONE anything yet, at least compared to the other big names in the Canadian cannabis industry. In their most recent financial statement, their Q3FY17 revenue was C$1.3M with a YTD revenue of C$2.5M a SMALL FRACTION of even the less-than-popular MedReleaf who had a Q3FY17 sales of C$11.35M and FY17 of C$31.6M I guess what I am ultimately getting at is that, IMO, Cronos is grossly over valued in terms of Market Cap and I expect that to catch up to them sooner than later if they can't produce financial results on par with the rest of the industry. I can imagine the share price breaking below the lower bounds of the triangle, falling fairly sharply to the Weekly 9EMA and potentially even correcting further. Just my $.02
NASDAQ:CRON
by DPeter85
CRON bounces off support hard.After taking a tumble, hoping for it a bit sooner, we can see that TSXV:CRON has bounced off support just north of the 61.8% Fibonacci retrace. This and strong buyer volume, leading to a strong close at +12.41%, with a green candle with no top shadow. There may be a bit of resistance and possibly slight pullback at ~11.74, but if volume stays the way it does, I can't see it being a problem. What we would like to see happen is for it to pop above that resistance line and close in the next re-trace zone, allowing us to turn the resistance into support, consolidate along or above and possibly think about looking at a new uptrend.
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by BTCanadian
Broke my neck.. looking for some support.Stocks are the only time breaking your neck can be a good thing. But it is usually scary for a bit afterwards. Some big volume came in and sent us shooting right past the 78.6% retrace, but right back down again as volume petered off and we look for support. Today did close with a minuscule green candle, sporting a small shadow. This could mean we might test the somewhat weak support level at 11.80, possibly falling where the MACD13 hits this line. If it goes below there, we are most likely going to test ~10.90 lightly. Let's hope it bounces off current support, consolidates along the 78.6% as it re-tests the zone it shot past earlier, and then up towards 13.10. Thank you for viewing my charts!
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by BTCanadian