Nov. 15 at 12:20 AM
$CELH is currently facing bearish market conditions, indicated by a last close of
$42.79, significantly below the 30-day moving average (MA30) of 57.64 and the 50-day moving average (MA50) of 56.81. The RSI at 16.97 suggests that the stock is oversold, which could indicate a potential reversal, but the strong downtrend remains a concern.
Given the 60-day high of 66.74 and low of 40.43, the price is closer to the low end of this range. A suggested entry point could be around
$41.00, with a stop loss set at
$39.50 to manage risk.
Targets could be set at
$45.00 and
$48.00, aligning with potential resistance levels and the need for a corrective bounce. This plan allows for a cautious approach while monitoring for signs of reversal given the oversold RSI.
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