RiskMastery's Breakout Stocks - CRLBF EditionWelcome to RiskMastery's Breakout Stocks - Stocks with breakout potential.
In this edition, we'll be looking at OTC:CRLBF ...
I believe this code is at a point of potential volatility.
If price can hold above $2.57 ... Bullish potential may be unlocked.
My key upside targets include:
- $3.28 (Conservative)
- $4.20 (Medium)
- $5.28 (Aggressive)
If however price falls below $1.49 ... Bearish risk potential may be unlocked.
(My key risk targets - C, M,& A - are as noted on the chart)
Enjoy, and I look forward to being of further service into the future.
If you'd like to connect, feel free to reach out and comment below.
Mr RM | Risk Mastery
Disclaimer:
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CRLBF trade ideas
Double Bottom ScalpJust posting this for my own trading records to look back on. Overall market will dictate this price movement, but this trade has about 10% downside with 100% upside. Many MJ stocks have similar setups, but for example, GRWG has no level of support with a 25% downside risk, with roughly the same amount of upside.
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Cresco Labs Inc - $CRLBF Chart AnalysisSPARK IT UP OR LET IT SIT?
Cresco Labs Inc. has been trading south with some funky price movements, but can this 'funk' produce some good highs? -- No.
On the weekly chart, #CRLBF looks to be starting it's 3rd wave on the interval cycle and will push price down considerably the next week or so before tapping in the help of the 3/4 correction wave prior to crushing the 5th wave down.
Like most of the cannabis tickers being shorted, this correction could see a $1 swing play, but I would proceed with caution as this correction will likely be covered and shorted the same day (super fast) in order to trap more bulls on the way down.
$4 seems to want to start the support zone of this impulse wave, but likely will push price down more before what could be the correction of the cycle in Aug.
$CRLBF Cresco Labs Inc Hits Major Support
Hopefully you find the chart helpful in terms of Supports & Resistance etc.
we refrain from adding commentary on the chart as that is reserved for our members and we are very conscious of not giving financial or trading advice.
Thank you for taking time to consult our chart and we would really appreciate a like, follow or comment.
Cresco Labs investment Idea Fundamental side of the idea:
For the full year of 2020, Cresco saw a whopping 271% year-over-year increase in revenue to $476 million. The company's retail revenue for the year grew to $202 million, up 316% year over year. Much of the credit goes to its Sunnyside retail platform, which, according to the management, generated average revenue per store of $3.6 million. Cresco has 10 Sunnyside stores in the new emerging cannabis market of Illinois. ) Its fourth-quarter (ended Dec. 31, 2020) revenue also jumped a massive 292% year over year to $162.3 million.
Another quarter of positive adjusted EBITDA (earnings before interest, tax, depreciation, and amortization) net of biological assets of $50 million is an impressive jump from $2.8 million in the year-ago quarter. It also reflects how well the company has been handling its operating expenses. Cresco's 2020 was a reflection of what's to come in the next few years, according to the management.
Technical side of the idea:
Since the price has hit an all time high(22CAD), it has been decreasing / and retraced to 0,61 Fibu level. As long as the price is Rebounding exactly on 0,61 Multiple times we should consider that there is a big Possibility for the Price to Move higher. I am expecting that the price will continue to increase to 80USD in the next two years, after breaking the 1,61 Fibu level ( which is going to be the new resistance ).
If you have Questions, you can Always Contact me !
Best Regards.
S.Sadki
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*
$CRLBF Cresco Labs 30% upside Cresco Labs Inc. engages in the business of cultivating medical grade cannabis, manufacturing medical products derived from cannabis cultivation, and distributing such products to medical or adult use consumers. It focuses on regulatory compliance while working to develop condition-specific strains of cannabis and non-invasive delivery methods. The company was founded by Charles Bachtel, Joseph Caltabiano, Dominic Sergi, Rob Sampson, and Brian McCormack on July 6, 1990 and is headquartered in Chicago, IL.
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*