Cresco Labs Inc - $CRLBF Chart Analysis
SPARK IT UP OR LET IT SIT?
Cresco Labs Inc. has been trading south with some funky price movements, but can this 'funk' produce some good highs? -- No.
On the weekly chart, #CRLBF looks to be starting it's 3rd wave on the interval cycle and will push price down considerably the next week or so before tapping in the help of the 3/4 correction wave prior to crushing the 5th wave down.
Like most of the cannabis tickers being shorted, this correction could see a $1 swing play, but I would proceed with caution as this correction will likely be covered and shorted the same day (super fast) in order to trap more bulls on the way down.
$4 seems to want to start the support zone of this impulse wave, but likely will push price down more before what could be the correction of the cycle in Aug.
Cresco Labs Inc. has been trading south with some funky price movements, but can this 'funk' produce some good highs? -- No.
On the weekly chart, #CRLBF looks to be starting it's 3rd wave on the interval cycle and will push price down considerably the next week or so before tapping in the help of the 3/4 correction wave prior to crushing the 5th wave down.
Like most of the cannabis tickers being shorted, this correction could see a $1 swing play, but I would proceed with caution as this correction will likely be covered and shorted the same day (super fast) in order to trap more bulls on the way down.
$4 seems to want to start the support zone of this impulse wave, but likely will push price down more before what could be the correction of the cycle in Aug.
Penafian
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