Cronos Group Inc (CRON)

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Cronos Group - One Cannabis Share Still Looking Promising - 30 Percent Price Explosion

Trend analysis based on 6 months
At the beginning of the week, we included the Canadian Cannbis share Cronos Group in our analyses for the first time. The company is one of the smaller representatives of the industry, but in recent weeks the stock has shown relative strength over its competitors such as Tilray and Aurora. For this reason, we took a closer look at the portfolio. The resistance at 9 US dollars was easy to see, and a breakout to the upside should, in our view, trigger a clear buy signal. As a result, we were able to observe them and the stock gained around 30 percent in value. One reason for this price explosion was also fundamental news. There are rumours that the Altria Group, formerly Phillip Morris, may be interested in a takeover. The affinity between tobacco and cannabis is hard to overlook.

Expert opinion:
So far these takeover rumours have not been confirmed by either company, but from a technical point of view the stock is now all the more interesting. The resistance at 9 USD has been broken significantly and is now an important support on the chart. As long as prices remain above this level, further gains can be expected. It is even possible to jump to the previous high for the year of around 15 US dollars. We continue to see potential here and are now revising our outlook to the bullish level.

Source: https://www.lynxbroker.de/analysen/aktuelle-analysen/cronos-group/#cronos-group-diese-cannabis-aktie-sieht-noch-immer-vielversprechend-aus-kursexplosion-um-30-prozent

07 December 2018 Cronos Group Share ISIN: CA22717L1013 - Symbol: $CRON - Currency: USD