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Cresco Labs Inc.

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CRLBF trade ideas

Cresco LAbs Inc - Alert set fro break above $3.22Cresco 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.
OTC:CRLBF
by OTCMarketsExpert
1
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
Popular CBD Can Make Canna Labs StrongCannabis related stocks have the potential to gain a lot if we see new breakthroughs in studies on cannabinoids, especially on CBD (and other non-psychotropics). Public exposure to CBD is widening, with more large chain retail shops stocking them on their shelves. The cannabis business may be a tricky one for growers and sellers, with various risks in product contamination and regulations. This makes picking winning stocks in these areas harder, but a lot of these variables are removed by buying stocks in companies that will enable these growers/sellers to do business. Labs is one of the key areas for this. Even if growers/suppliers have bad products that can not be sold, they will still pay the bill to the lab to tell them that. There are currently certain amounts of trace THC allowed in products and these require lab verification to be compliant - and lab reports are usually demanded by retail buyers to ensure quality of product. The labs are the backbone of this business. From a technical viewpoint CRLBF has now had it's first run up and crashed. It has traded almost back to where it started. Now it's managed to regain the first of the important fib retrace levels. This may be signs the stock has bottomed out, and a new up trend into a higher high could be seen in the future. Swing Trade : Buy CRLBF 6.68. Stop Loss 3.2. Target 17. If this move starts to happen, I will post additional short term trades to follow the momentum through days/weeks
OTC:CRLBFLong
by Bear2020s
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 Cresco Labs trade setupCresco 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.
OTC:CRLBFLong
by OTCMarketsExpert
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
$crlbf Cresco labs 313% revenue growth in cannabis & no debt. From what we can see the company is doing things right and they acquisitions seem to be a great strategy in getting a larger footprint in the states that hold the greatest value. To best analyse the company, we have attached a small section of the transcript from the most recent earnings report. EARNINGS TRANSCRIPT "In the first quarter, we generated revenue of $21.1 million, a 313% year-over-year increase, compared to Q1 of 2018 and a 24% sequential increase quarter-over-quarter. Q1’s proforma revenue was equal to $33.9 million, and importantly, we delivered another quarter of positive adjusted EBITDA. We couldn’t be happier with what we’ve been able to accomplish so far this year.Cresco generated Q1 gross profit of $9.4 million or 44.6% of revenue, compared to gross profit at $2.2 million or 43.6% of revenues for the comparable prior year period.We expect our gross profit margins to continue to improve over time as we leverage the infrastructure associated with scaling the business and expanding our production capabilities in several markets.Turning to the balance sheet and liquidity measures, Cresco is low capitalized to execute on its strategic initiatives in the coming year. As of March 31, 2019, Cresco had total assets of over 364 million, including cash and cash equivalents of $106.1 million. The company has a working capital position of approximately $146 million with no debt on the balance sheet." We would suggest you make the effort to read the entire transcript as it paints a very positive future for the company. AVERAGE ANALYSTS PRICE TARGET$19.20 AVERAGE ANALYSTS RECOMMENDATION BUY
OTC:CRLBFLong
by RedHotStocks