Breakout Stocks of Week 22 @ OTCBB
NASDAQ was up last week (week 21) by 1.33% ending at 16,920.80 points after gaining 222.47 points during the week. Our system has detected some possible breakout stocks for the following week and these should be on your watchlist. These are the stocks that are bouncing up with good increase in volume and are likely to do good in short term. One of these stocks are Cresco Labs Inc. OTCBB:CRLBF. This stock has had a buy signal since May 17, 2024 when the price was $2.16 , but have so far fallen -10.84% to $1.93. Some other companies are on our watchlist to, among these are which all got a breakout pattern emerging.
| Date | Company | Price | Week 22 |
|---|---|---|---|
| Cresco Labs Inc. | $1.93 | $1.91 | -0.82% |
The Cresco Labs Inc. stock price gained 1.36% on the last trading day (Friday, 24th May 2024), rising from $1.90 to $1.93. During the last trading day the stock fluctuated 5.47% from a day low at $1.92 to a day high of $2.03. The price has fallen in 6 of the last 10 days and is down by -8.3% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 2 million more shares were traded than the day before. In total, 3 million shares were bought and sold for approximately $6.43 million.
On Dec 30, 2022, it was reported that Cantor Fitzgerald gave CRLBF a "Overweight" grade with a "hold" action.
The Cresco Labs Inc. stock holds several negative signals and despite the positive trend, we believe Cresco Labs Inc. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
About Cresco Labs Inc.:
Cresco Labs Inc., together with its subsidiaries, cultivates, manufactures, and sells retail and medical cannabis products in the United States. It provides cannabis in flowers, vape pens, live resins, disposable pens, and extracts under the Cresco brand; vape carts, vape pens, flower, popcorn, shake, pre-rolls, shorties, and concentrates under the High Supply brand; vapes and gummies under the Good News brand; vapes and edibles under the Wonder Wellness Co brand; and tinctures, capsules, salves, and sublingual oils under the Remedi brand, as well as cannabis products under the Reserve brand. The company also offers cannabis flowers under the FloraCal brand; and chocolate and toffee confections, fruit-forward gummies, hard sweets, and taffy under the Mindy's Edibles brand, as well as licenses the Kiva brand, which produces cannabis infused edibles, including chocolate confections, gummies, mints, and tarts. In addition, the company offers cannabis-infused edibles under the Sunnyside brand. As of January 27, 2022, it owned and operated 48 dispensaries. The company was incorporated in 1990 and is headquartered in Chicago, Illinois.
Despite these candidates are looking good from a technical perspective they may not perform as expected. You should always be cautious when trading and base your decisions on more than one source of information. This does not constitute an offer or recommendation to buy or sell securities.
