CRON trade ideas
ABC BullishIs it time for this sector to make a move?
Usually when one does they all follow
Earnings are 8-6 BMO
Not a recommendation
$CRON Cronos long trade targets Cronos Group, Inc. engages in the production and distribution of cannabis. Its brands include PEACE NATURALS, COVE, Spinach, Lord Jones and PEACE+. The company was founded by Lorne Michael Gertner and Paul Rosen on August 21, 2012 and is headquartered in Toronto, Canada.
NASDAQ:CRON P-Modeling Pt 1. Cannabis Hyperspace AgentsWelcome Hyperspace Agent...
This is Cronos Group Inc. I am a holder.
It is my belief...
That the entire cannabis sector has found their bottoms.
Give or take of course.. this is an approximation of the linear network. Bare Bones of Cronos Group Inc (CRON)..
Will develop further as we go..
The catalyst is the legalization of cannabis in the USA by executive order by a president that promised to do just that. ;)
_______________________________________________________________________
I do not expect to be spot on, however.. note the following..
Find the 'We are here bubble'..
Find the pink path.. This is the predicted path.
Find the white trend. This is the actualized trend at a 4 hour time-frame.
My proposition is that we follow with relative accuracy the trend in pink.
Let's call this Proposition A.
I do NOT have a proposition B at this time..
Trial and Error..
Failure is a necessary component of success..
Thanks for Pondering the Unknown with Me,
Glitch420
CRON - CRONOS GROUP INCFalling Wedge Breakout
WARNING! !
-This analysis is educational.
-I do not buy and sell the stock that I shared.
- There is no rule that the analysis that I share will be like this.
-Do your own research.
-YOU ARE RESPONSIBLE FOR YOUR OWN FINANCIAL DECISIONS.
$CRON Cronos Trade to $7.15
Possible target $7.15 Trading the Fibonacci channel .
Indicators have all reversed bullishly
Right Shoulder FormingBased on the left shoulder, I am anticipating a break of the trend line in August. Maybe sooner?
HEY CRONIT'S PROBABLY THAT NASDAQ:CRON GO UP IN NEXT CAUSE OF THE (BIG) CONNECTION TO NYSE:MO , IN FACT THE PRICE OF CRONOS IT'S VERY CONNECTED TO THE ALTRIA GROUP PRICE .
WATCH HERE THE BALANCE
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OPENING: CRON OCTOBER/JULY 4/8 LONG CALL DIAGONAL... for a 3.00/contract debit.
Metrics:
Max Loss on Setup: $300/contract
Max Profit on Setup: $100/contract (33.3% ROC)
Break Even: 7.00
Debit Paid to Spread Width Ratio: 75%
Notes: High background implied at 118% with plenty of opportunity to reduce cost basis via roll if it discontinues its grind up.
CRON Round upCRON has rested support at the $6.7 area. It looks as though it will round up back to 7.27 which will act as resistance. This will be an 8% profit potential play
$CRON Cronos short term targets
Possible upside reversal targets
$7.19 fibonacci 0.5 level
$7.27 200 ma resistance
SHS pattern forming for CRONPredicting a SHS candle movement, waiting for price to move down to $6.20 before making its way up to $7.16 to form the second shoulder of the SHS pattern and then retracing down. Price chart movement might also be following a 5-3-5 Elliot wave price movement
Are Pot Stocks Back? Potential Breakout OpportunityCRON has broken out of the descending triangle pattern (reversal) with a strong bullish candle (+21%) on 6/8/20. This is an interesting setup since the descending triangle chart pattern seemed to form at the end of the downtrend. Over the last several months pot stocks have gotten hammered. Some stocks even falling +90% during the bear market. The fundamentals are beginning to align, and general market sentiment has greatly improved. If sentiment remains positive, there is a possibility that CRON will continue to rally into election season. If there is a strong push for more states to legalize marijuana, then except additional momentum.
Cronos Group (CRON / USD) __ NASDAQ Prices of Interest to buy shares at 🧐🤔:
$5.60
$7.68
$9.77
Profit prices to consider 🧐🤔:
$15.37
Trappednice potential wxy in progress with support looking left. looking for a buy at the apex and or 100/123 fib ext
$CRON Possible resistance but by the 5th Moon.......CRON could move lower on a SHORT but by the 5th Moon
we will see if the line of resistance can be broken!
$CRON Heavy resistance zone
Despite the bullish move recently the stock is now under some quiet heavy resistance.
Fibonacci resistance is strong at $7.25
Horizontal resistance @ $7.00
Upper Bollinger band @: $8.00
IF the sector moves bullishly this week CRON will be bragged along so lets set $8.00 as a target.
$CRON Bottom foundI believe we have found a bottom with $CRON. Expecting a pullback to the trend line and then a visit to the main supply zone. I am bullish on this company through its dealings with $MO.
