This company is still so young, it is hard to find levels of confluence and targets. I figured to just draw FIB chart from $0 to the top, to see how that would look, and it seems to provide more than just a few levels. I don't want to go out my way to analyse this asset before I'm certain that a bottom is in. Currently still trading below MA20, and I think it should at least break that before we can consider this as a bullish bet.
It certainly recovered nicely from recent lows, but with $2 being a clear psychological level, perhaps the final low could be at $1.50. I would certainly be a buyer. I love Cresco Labs. Excecution, fundamentals, spread, moat, even value, it is all there. Earnings coming up in about a month or so. This one is definitely my favourite MSO, together with Trulieve. Green Thumb Industries gets all the hype, but its fundamentals aren't very good. Perhaps that is why it is making all the noise. Cresco Labs, levels on watch.
Yorum
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Longer term upside targets remain largely the same, $2 or $1.50 bottom.
I’m a buyer in this range all day. Nice chart, solid idea working up from 0 on the fibb. I use cresco regularly so I am highly confident in the longer term on this.