Jul. 10 at 1:01 AM
$CRNT $CRNT looks ready to explode out of a massive technical trap.The stock just pulled back 23% from its 52-week high on drying volume and built an absolute fortress between
$2.30 and
$2.39. Today it confirmed a daily Morning Star Doji reversal right on top of its 200-day moving average and closed strong at
$2.39.WHEN you look at the monthly chart, this is just a healthy macro higher-low retesting a multi-year accumulation base. Plus, market makers are sitting on a massive wall of short July
$4 calls that will force a major gamma squeeze if we break the
$2.45 daily Fibonacci line.With the new Qualcomm CTO webinar coming up at the end of the month and earnings on August 5, the "buy the rumor" run-up is perfectly primed.