Cresco Labs Inc. (CL.CA) Stock Technical Analysis
CNSX:CL - Canadian Securities Exchange -
We assign a technical rating of 7 out of 10 to CL. This is due to a consistent overall performance, although we see some doubts in the very recent evolution. In the medium time frame things are still looking good.
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 trading in the upper part of its 52 week range, so CL is lagging the market slightly.
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
17.69
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.
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. |
Daily CandleStick Patterns
Bullish Engulfing (D)
Bullish Hammer (D)
Bearish Inverted Hammer (D)
Hanging Man (D)
Bullish Harami (D)
Doji (D)
Gravestone Doji (D)
DragonFly Doji (D)
Bearish Engulfing (D)
Bearish Shooting Star (D)
Bearish Harami (D)
Inside Bar (D)
Red Dog Reversal Down (D)
Red Dog Reversal Up (D)
Dark Cloud Cover (D)
Weekly CandleStick Patterns
Bullish Engulfing (W)
Bullish Hammer (W)
Bearish Inverted Hammer (W)
Hanging Man (W)
Bullish Harami (W)
Doji (W)
Gravestone Doji (W)
DragonFly Doji (W)
Bearish Engulfing (W)
Bearish Shooting Star (W)
Bearish Harami (W)
Inside Bar (W)
Dark Cloud Cover (W)
Daily Chart Patterns
Bull Flag
Bear Flag
Ascending Triangle (D)
Descending Triangle (D)
Symmetrical Triangle (D)
Squeeze
Channel (D)
Channel Up (D)
Channel Down (D)
Rising Wedge (D)
Falling Wedge (D)
Double Bottom (D)
Multiple Bottom (D)
Double Top (D)
Multiple Top (D)
Weekly Chart Patterns
Weekly Bull Flag
Weekly Bear Flag
Squeeze Week
Channel (W)
Double Bottom (W)
Multiple Bottom (W)
Double Top (W)
Multiple Top (W)
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.
CNSX:CL (4/8/2021, 8:06:19 PM)
15.76
0 (0%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorN/A
GICS IndustryN/A
Performance
% Chg0%
1 Week-1.38%
2 Weeks-3.84%
1 Month-6.36%
3 Month10.52%
6 Month74.34%
12 Month260.64%
2 YearN/A
3 YearN/A
5 YearN/A
10 YearN/A
15 YearN/A
Volatility
ATR(14)1.09
ATR(20)%6.05%
ATR Inc-15.31%
Range Today0.82
ADR(20)N/A
ADR(20)%N/A
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS84.46
Mansfield2.76
10 Day High16.97
10 Day Low14.03
20 Day High17.8
20 Day Low14.03
52 Week High22.2
52 Week Low4.06
CS1 End15.49
CR1 Start16.17
Volume & EV
DER(3)-2.83%
DER(5)0.35%
Volume228.90K
Volume Incr-56.17%
Vol(5)340.40K
Vol(50)831.14K