Cresco Labs Inc. (CL.CA) Stock Technical Analysis
CNSX:CL
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.
- When comparing the yearly performance of all stocks, we notice that CL is one of the better performing stocks in the market, outperforming 84% of all stocks. We also observe that the gains produced by CL over the past year are nicely spread over this period.
- 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 has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. 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
14.25
When analyzing the support we can see 3 important 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.
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. |
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 trade has a worst case loss of 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.
CNSX:CL (4/8/2021, 8:06:19 PM)
15.76
0 (0%)
Cresco Labs Inc. / CL.CA FAQ
Can you provide the ChartMill technical rating for Cresco Labs Inc.?
ChartMill assigns a technical rating of 6 / 10 to CL.CA.
Can you provide the trend direction for Cresco Labs Inc.?
The current trend direction for Cresco Labs Inc. (CL.CA) is Bullish.
What is the RSI signal for Cresco Labs Inc. (CL.CA) stock?
Cresco Labs Inc. (CL.CA) has an RSI value of 43.788. This indicates that the stock is currently neutral.
Can you provide the buy/sell signal for Cresco Labs Inc.?
The buy/sell signal for Cresco Labs Inc. (CL.CA) is hold as the short term and long term trends are mixed.
What is the support and resistance level for CL stock?
Cresco Labs Inc. (CL.CA) has a support level at 15.49 and a resistance level at 16.17. Check the full technical report for our detailed analysis of CL.CA support and resistance levels.