Cronos Group Inc. (CRON) Stock Forecast: Do You Trade Extreme Moves?

Taking into account all relevant factors, Cronos Group Inc. (NASDAQ:CRON) scores 100% Sell on the technical side. The share price is also flashing a Sell from the Barchart TrendSpotter trading system. Investors starting out on a short-term path of investing should know that short terms indicators for CRON averaged 100% Sell with an average daily trading volume over the past 20 days at 9791175 shares. Those using medium-term investment strategies, the shares have overall a 1% Sell signal while the 50-day average daily volume remained almost 7732056 shares. It’s also important to note that the stock, whose average daily volume over the 100 days as of this piece was shares, is signaling100% Sell for long term investors.

The stock is lingering around the initial support level of $6.53. After this, the following support is at the zone of $6.19. Up until the time the CRON stock hit levels beyond the current one, bulls should have no alarm. In terms of its momentum, the stock’s RSI hit 43.02 on the daily chart, and this may be a cause for concern. In case the price goes below $6.19 level on closing basis, there may be more profit booking with the stock growing weaker. Still, getting to the $7.06 level may cause a pull-back move approaching $7.25 mark.

Cronos Group Inc. (CRON) is most likely going to rise -100 percent in the coming 12 months, as per price target approximations compiled by finviz. Nevertheless, they have set the price target at a $12.85-month high price target. This represents a whopping 86.77 percent increase from the current trading of shares. The 52-week median price target given by the analysts is $9.8, which means a return possibility of 42.44 percent in comparison with the closing price of the stock of $6.88 on December 03. The lowest price set for the stock is $6.04 — just above -12.21 percent from CRON share price now.

On December 03, 2019, Cronos Group Inc. (NASDAQ:CRON) shares gained 5.85% or 0.38 points to close at $6.88 with a heavy trading volume of 6.31 million shares. It opened the trading session at $6.37, the shares rose to $6.9 and dropped to $6.37, the range by which the price of stock traded the whole day. The company now has a market cap of $2.37 billion and currently has 343.76 million outstanding shares. Cronos Group Inc. (CRON) stock has plunged -16.3 percent of market value in 21 trading days.

Stock analysts at Stifel upped their rating on shares of Cronos Group Inc. (NASDAQ:CRON) from Hold to a new rating of Buy in their opinion released on October 18. Analysts at BMO Capital Markets issued an upgrade for the stock to Market Perform from previous rating of Underperform, in a research note that dated back to September 05.

CRON stock’s trailing 3-year beta is 0, meaning there will be a lower rate of return, although posing a lower risk. The part of a firm’s profit given to each outstanding share of regular stock was -$0.03 share in the trailing 52 weeks. The stock’s value fallen -33.78 percent year to date (YTD) compared to a decline of -24.81 percent in 52 week’s period. The firm’s shares are still trading -72.59 percent below its 1-year high of $25.10 and 13.91 percent up from 52-week low of $6.04. The average consensus ranking on the company is 0, on a ranging where 5 is equal to a consensus sell rating. In other words, the mean analyst recommendations are ranking this stock as a buy.

Past records have indicated that shares in Cronos Group Inc. declined on 6 different earnings reaction days and we have yet to see whether this trend will play out and remain in place when the company reports upcoming earnings.