Nov. 22 at 2:45 AM
$CELH is currently trading at
$38.99, significantly below its 30-day moving average (MA30) of 54.05 and 50-day moving average (MA50) of 55.14, indicating a bearish market context. The RSI at 18.46 suggests that the stock is oversold, which could lead to a potential reversal or bounce. However, the recent 60-day high of 66.74 and low of 38.84 indicates a tight trading range, with current prices near the low end.
Directional bias is bearish due to the significant distance from the MAs and the low RSI, but an oversold condition may provide a short-term buying opportunity.
Suggested entry:
$39.50 (above current close to confirm momentum). Stop loss:
$37.50 (below recent low). Targets:
$44.00 (first target) and
$48.00 (second target), aligning with potential resistance levels and a recovery towards the MAs.
Monitor closely for signs of reversal before entry.
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