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.
Cronos
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!
Cronos breaking through channel MJN breaking through falling channel after being added to the Nasdaq.
Good chance to continue upward trend. Look for pullback entry point
