CRON looks to be consolidating after its recent drop after its poor earnings, and has spent over a week now consolidating in the Ichimoku cloud, building lower highs and not showing much bounce strength.
Obviously, the one risk factor here is that they have investment from Altria and could come out with some M&A or international development. But other MJ companies are too expensive right now for M&A, and I internationally, the marijuana movement seems quiet.
I predict it will fall out of the cloud for a short term short trade.
Obviously, the one risk factor here is that they have investment from Altria and could come out with some M&A or international development. But other MJ companies are too expensive right now for M&A, and I internationally, the marijuana movement seems quiet.
I predict it will fall out of the cloud for a short term short trade.
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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.