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CRONOS GROUP INCCRONOS GROUP INCCRONOS GROUP INC

CRONOS GROUP INC

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CRON trade ideas

Longs/shorts for fighting hereThis BID up on the NASDAQ was insane. The weekly 13 ema was crossed which gave support to the .236 fib. I am using the fib channel for CRON since they Got 2 Billion in the Bank and have bankers on the board which I suspect CRON to continue a long term uptrend year over year. This could go two ways. break through .236 fib and find support at 7.50 about 2.5 B market CAP or this is a bottom. I was looking for a weekly close above 12 to be bullish. I am watching this closely and waiting for a daily 13/20 ema cross
TSX:CRON
by derekh42
Possible Consolidation/Trend Change On CRONCronos Group had a strong uptrend and maintained it for about a year when there was a lot bullish speculation around cannabis as more states in the U.S. began to legalize the plant for recreational and medical use. There were huge estimations on the total worth of the market, however, an estimation on any market will come with errors, estimations on the size of black markets are even more difficult to estimate as there will be a significant amount of errors due to missing data or due to proxying variables to substitute for the missing variables. In addition, the demand for legal cannabis varies dependent on the cost and quality of black market contraband. Once actual revenue started coming in for these companies and solid data, most investors left the space. The Fundamentals: As I am still developing my understanding of the financials of businesses, I still understand the balance sheet at a basic level, and currently, the business is still incurring a loss despite increasing its revenue significantly. At the early stage of businesses its not uncommon for them to take on debt, I am not sure on the exacts of the ratio a company should incur in debt, but this is something I will do more research on. The Chart: On the daily, it appears like the current movement is slowing down as the real bodies for these candles are shrinking, the current candle on the daily is a potential 3 candlestick reversal known as a morning star. If it reverses here on the daily, it is likely a reversal candle will be printed on the weekly. Another thing to note is that the price is currently at a level of support. On the RSI, there is a descending trendline and price action has been accelerating to the downside. It is possible to try a longer term position with the RSI trendline kept in mind as a possible area to take profit and such, but that event would take more time and possibly more downside to occur, once the morning star is confirmed a shorter term long position is possible.
NASDAQ:CRON
by CuddlyCuddles
CRON TESTING TREND LINE!Hello Traders, Welcome back to another chart, Today’s chart will be on the MJ sector – CRON Points to consider, - Price is trending bullish up retest of trend line - Local resistance a .618 Fibonacci Line - RSI coming into apex - Stochs testing resistance - EMA’s giving price resistance at current given time - Volume is well below average - VPVR, showing low volume of transactions from current point - Current support is being held by the Fibonacci extension – 1.272 zone CRON is in an interesting place at current given time, it is testing it’s upwards trend line, CRON bulls and or bears have an opportunity to take over from this point… Price is currently testing support being provided by the Fibonacci Extension which is in confluence with the upwards trend line. Bull have the probability of pushing price up from here as CRON has had a major downwards rally, it would only be natural for the price to have a relief rally… The RSI is getting closer to its apex whilst the stochastics is testing its local resistance. Volume is currently well below average, we need to see an increase in volume if price where to break either direction. If CRON is able to respect its trend line, then the probability of retracing back to the .618 Fibonacci is more favourable, posting a potential gain of 20.56%. However if bears break this support and trend line, then CRON can test next lower local support, posting a gain of 27%... A break either way needs to be confirmed with volume, the VPVR shows low levels of transactions from this point both ways, price should be able to reach targets comfortable upon breakout… What are your thoughts? Will CRON respect trend line or break bearish and test lower levels? Please leave a like and comment And remember, “Amateurs think about how much money they can make. Professionals think about how much money they could lose.” – Jack Schwager
NASDAQ:CRON
by AzizKhanZamani
6
CRON - ShortingDon't get me wrong, overall I am bullish on this stock. Coming up, however, we are due for a correction from a market driven largely by news / media. Check the financials. Keep in mind everything from 1/28 -> on could be artificial movement due to Kramer calling it out on TV. I would expect quite a big profit taking coming up, wouldn't be surprised by a drop of 38% from current rise ($14 price), or even more, before the strong resistance kicks in. I love this stock (bought in at $7.62 / pre Altria) but all rides up have their downs. 2 things to look at on longer charts. 1D, and 1W. Developing rising wedge - unavoidable from recent news attention. Bearish Divergence seen in the RSI. Overbought, and decreasingly so. My sell limit is at a conservative $20. However, it may be reasonable to expect a $22-24 price before the correction. I have charted a Fib Retrace from current low, expecting a 38% profit taking. Keep in mind, if the price goes > $19.50, the Fib Retrace needs to be adjusted for newer buy targets. Currently, I am looking at nice round numbers of $14 (best estimate), $12, or $10 (least likely). At least we have our Resistance levels marked, if there is a correction.
NASDAQ:CRONShort
by Shwayze