Cresco Labs Inc. (CL.CA) Technical Analysis
CNSX:CL
Current stock price
CL.CA Technical Rating and Analysis
Overall CL gets a technical rating of 7 out of 10. In the last year, CL was one of the better performers, but we do observe some doubts in the very recent evolution.
- Looking at the yearly performance, CL did better than 84% of all other stocks. On top of that, CL also shows a nice and consistent pattern of rising prices.
- The short term trend is negative, but the long term trend is still positive. So although the long term is still positive, this may be a trend turning.
- CL is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so CL is lagging the market.
- In the last month CL has a been trading in the 14.03 - 17.80 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.
- Considerably lower volume is observed in the last couple of days.
CL.CA Weekly and Daily overview Charts
CL.CA Setup Rating and Analysis
Besides having an excellent technical rating, CL also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is a resistance zone just above the current price starting at 16.17. Right above this resistance zone may be a good entry point.
More info and screens
CL.CA Support and Resistance Analysis
14.25
We found 3 important support areas.
- Support @15.49 from a horizontal line in the weekly time frame.
- Support @14.77 from a trend line in the daily time frame.
- Support @14.39 from a horizontal line in the daily time frame.
2 important resistance areas can be observed.
- A resistance zone ranging from 16.17 to 16.33. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A resistance zone ranging from 17.25 to 17.51. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
CL.CA Technical Indicator Signal Analysis
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | UP | POSITIVE | The long term trend for CL.CA is up. |
| ChartMill Short Term Trend Indicator | DOWN | NEGATIVE | The short term trend for CL.CA is down. |
| ChartMill Relative Strength | 84.46 | POSITIVE | CL.CA has a high relative strength, it outperformed 84.46% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of CL.CA is below a declining SMA(20). |
| Simple Moving Average/SMA (50) | UP | MIXED | The current price of CL.CA is below the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of CL.CA is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 43.79 | NEUTRAL | The RSI value for CL.CA is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.04 | POSITIVE | The MACD value suggests CL.CA has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 52.52 | NEUTRAL | The Stochastics value for CL.CA is a neutral value. |
| Average True Range in percent/ATR (20) | 6.05 | HIGH VOLATILITY | The high ATR as a percentage value for CL.CA suggests high volalility. |
CL.CA Chart- and CandleStick Pattern Analysis
CL.CA Example Setup
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 16.34 | 15.48 | 0.86 (5.26%) | 19.00% |
| An entry @16.34. This is a Buy Stop order right above the resistance zone. | An exit @15.48. This is a Stop Loss order right below the support zone. | The worst case loss on the trade is limited to 0.86 points, which is 5.26%. | For a 1.00% total portfolio risk, you can invest 19.00% of your capital in this trade. |
- The distance between exit and entry is rather small compared to the average daily movement of CL. Please evaluate whether better entry and exit points can be found.
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
CL.CA Technicals: Chart, Performance Metrics, Trend & Indicators
CNSX:CL (4/8/2021, 8:06:19 PM)
15.76
0 (0%)
Cresco Labs Inc. / CL.CA TA FAQ
Can you provide the ChartMill technical rating for Cresco Labs Inc.?
ChartMill assigns a technical rating of 6 / 10 to CL.CA.
What is the current trend direction of Cresco Labs Inc. (CL.CA) stock?
The current trend direction for Cresco Labs Inc. (CL.CA) is Bullish.
What is the RSI signal for CL stock?
Cresco Labs Inc. (CL.CA) has an RSI value of 43.788. This indicates that the stock is currently neutral.
What is the short term momentum for CL stock?
The short term momentum for Cresco Labs Inc. (CL.CA) is negative.
What is the buy/sell signal for CL stock?
The buy/sell signal for Cresco Labs Inc. (CL.CA) is hold as the short term and long term trends are mixed.