The Cronos Group (TSXV:MJN; OTC:PRMCF)
The Cronos Group (formerly known as PharmaCan) has been one of the best performing stocks in the sector since last summer and has a very interesting business model in that they have stakes in various Licensed producers/applicants across the country as well as showing initiative in the international market. Though trading below both the 20 day and 50 day moving averages the stock has historical support in the $2.40 range and I will be watching it very closely if it gets back to that price. One thing worth noting though is “watching” and “buying” are two different things. Just because it pulls back to an area of historical support, doesn’t mean you should buy it. If you compare this chart to Canopy’s it is looking similar in that it failed to make a new high and has since reversed the pattern ever since creating a constant stream of lower highs and lower lows – we need this to reverse.
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