This Cannabis Stock Broke Out Last Week
Justin Smyth | Jun 11, 2018 12:22AM ET
Cronos Group (NASDAQ:CRON) had a big week last week moving higher on almost 40 million shares traded for the week. Average weekly volume currently is 7 million shares so this was over 5x average weekly volume. Explosive to say the least, and a sign of big money accumulating shares. Notice how CRON formed a tight consolidation over the past few weeks right at the 30-week moving average and has started to break out higher. This is a textbook Stage 2 continuation buy setup that other stocks in this space are also exhibiting.
Disclosure: I am long shares of CRON.
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