Underlying weakness, with bullish divergence on several indicators. Could possibly see a correction to $0.70 support/resistance soon. Excellent fundamentals, undervalued and a strategic investment by Imperial Brands. Monthly/weekly falling wedge likely to remain in play until Q2 2021, but there should be some significant bounces. Currently trading at $0.57, a bounce to $0.70 would mean a significant profit, while a drop below $0.54 would be an opportunity to buy more shares.
I am long Auxly, but I'm selling every extended bounce, locking in profits, then retrace it to load up again.
If you aren't familiar with this company, then you should research it. Their business model is similar to that of CRON. With UK based Imperial Brands on board, there is no reason why CRON should be favoured over XLY, though CRON enjoyed a $1.7B strategic investment, while XLY thus far received $200M. Still, strategically, CRON is expected to have that money sustain its business for the next 15 years, which suggests to me that $200M is actually very good money to sustain operations in the next few years.
I am long Auxly, but I'm selling every extended bounce, locking in profits, then retrace it to load up again.
If you aren't familiar with this company, then you should research it. Their business model is similar to that of CRON. With UK based Imperial Brands on board, there is no reason why CRON should be favoured over XLY, though CRON enjoyed a $1.7B strategic investment, while XLY thus far received $200M. Still, strategically, CRON is expected to have that money sustain its business for the next 15 years, which suggests to me that $200M is actually very good money to sustain operations in the next few years.
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