Nothing but bullish for the cannabis market right now, especially since the recent approval of Bill C-45. There's been a little bit of news selling, which has set up and ideal buying opportunity.
I went long at $6.77, but now is still a good time to jump in imo. If you wanna be safe, wait until we break out of the Triangle. Stop losses set $5.48, but overall I'm not worried if we dip below as I'm mid to long term in this market. Low to zero leverage is advisable due to the volatility of this stock.
I'm not a financial advisor, do your own due diligence before entering trades!
I went long at $6.77, but now is still a good time to jump in imo. If you wanna be safe, wait until we break out of the Triangle. Stop losses set $5.48, but overall I'm not worried if we dip below as I'm mid to long term in this market. Low to zero leverage is advisable due to the volatility of this stock.
I'm not a financial advisor, do your own due diligence before entering trades!
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WEED Triangle breakout, are we about to see the same for CRON?
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CRON 5.25% is testing the top of the triangle for the 3rd time since ATH's. This usual leads to a breakout so it's looking good. Volume is picking up again which is positive, and we're on a daily green 2 which could lead to a green 9, meaning 7 more days of momentum heading up. Looking for a close above 8.18 over the next few days which would give me almost no doubt that we will continue to push higher in the medium to long term.
CRON 5.25% is testing the top of the triangle for the 3rd time since ATH's. This usual leads to a breakout so it's looking good. Volume is picking up again which is positive, and we're on a daily green 2 which could lead to a green 9, meaning 7 more days of momentum heading up. Looking for a close above 8.18 over the next few days which would give me almost no doubt that we will continue to push higher in the medium to long term.
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breaking out!
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Bit of a pull back coming into the weekend, we may fall back to 7 on Monday but I think it's probable that we will rally back up through out the week.
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Clearly we got rejected at the top of the triangle as the breakout didn't follow through. I think the whole stock market is in correction mode and everything else has followed across the board. Looking for the low of 5.48 to hold for CRON, and I am still bullish until we take out that low.