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Cannabis stocks have faced a massive decline and bear market in the past years, but looking at the logarithmic scale chart of Cronos group with ticker CRON, it still looks like a nice, higher degree A-B-C zig-zag correction, nicely connected within channel range that can be coming to an end soon.

From a technical point of view and from Elliott's wave perspective, if/when Cronos manages to recover back above 4.0 first bullish evidence level, this is when we can confirm strong support in place. Bullish confirmation level is above channel resistance line and 15 region.

One of the main reasons, why cannabis stocks could become attractive again is SAFE Banking Act. When Washington, D.C. lawmakers return from their July 4th break on July 10 they are likely to get down to serious business. A proposed law would boost investor interest in the space because it would allow banks to work with cannabis companies. This would help cannabis companies in several ways. 

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