Good old CRON. We played it for the quick move up last year (2018) and sold in FEB 2019. We then went bearish on it and have said to those traders that wanted in "Don't Chase it, Retrace it!"
It now looks to have completed the Blue Bat pattern with a nice close on Oct 14 right at the textbook 88.6% retracement. It has also recently broken out of the huge pink parabolic down curve that has contained CRON this year (2019). Now with the recent pop and collapse, the price is sitting just slightly above the green buy line. In fact it is in the buy zone now!
We see nice daily rsi divergence setting up and look to start a new harmonic pattern.
We may see the pink Shark pattern develop. This could project an 88.6%-112.8% bounce of the Feb 2019 sell off to where we are right now.
Please note the "We are Here" and the small risk to the downside (if we're wrong) if we drop below the green buy line.
otherwise, this stock looks to be building energy here and should give us some very nice gains as we go forward into 2020.
if you would like to join our trading group for free, just let us know
It now looks to have completed the Blue Bat pattern with a nice close on Oct 14 right at the textbook 88.6% retracement. It has also recently broken out of the huge pink parabolic down curve that has contained CRON this year (2019). Now with the recent pop and collapse, the price is sitting just slightly above the green buy line. In fact it is in the buy zone now!
We see nice daily rsi divergence setting up and look to start a new harmonic pattern.
We may see the pink Shark pattern develop. This could project an 88.6%-112.8% bounce of the Feb 2019 sell off to where we are right now.
Please note the "We are Here" and the small risk to the downside (if we're wrong) if we drop below the green buy line.
otherwise, this stock looks to be building energy here and should give us some very nice gains as we go forward into 2020.
if you would like to join our trading group for free, just let us know
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.