CRNT - Channels Channels with the vertical lines being the middle point
Recovery movement back up to the previous resistance
I have tried to show this move with the bars pattern tool
CRNT
Long CRNTCRNT hit the textbook 50% fib retracement buy zone. Because it is a pretty volatile stock, I like to use the 78.6% retracement as the stop loss to give the trade more room to be right. That would mean putting on a smaller position to take on the added risk from a wider stop.
NOTE: Earnings are soon, so be careful if you are going to take this setup
- Stock is at 50% retracement support area
- 20 day EMA could act as support
- On the monthly chart, the 200 month SMA has acted as a large resistance zone, so that is one bearish factor to be aware of. If the stock can get above that and close above it, that would be extremely bullish for a larger continuation of this reversal.
Trade
- Buy around $4.50
- PT1: $7.50
- PT2: $8.50
Stop loss: $2.99
Long CRNT- Another stock sponsored by Katie WoodsAnother Israeli company traded on the crack, similar to its companies recently, is also flourishing in its field after none other than the fund manager Ark decided to invest in the company
Ceragon Networks deals with the 5G world and everything around it, without a doubt it has more to grow in this futuristic field.
Technically it seems that the company has reached its peak in the past and from there came relatively aggressive realizations until the average 20 gave it nice support in the 4.3 area,
Since the stock is rising nicely but getting resistance in the $ 6 range when there is currently substantial support in the $ 5 range, it seems that if you get there a lot of buyers will come to take advantage of the opportunity
The biggest thing happening in the market lately and all this is backed by Mrs. WOOD
As long as the stock is calm in the coming weeks it is likely to see another upward break
Good luck to everyone
There is no recommendation but a personal opinion only
CRNTCRNT focuses on 5g technology, with Huawei getting booted off the 5g plan, there is much more room for growth.
CERAGON PatternsCERAGON has formed an Adam & Adam, a triple bottom with a bottom mirror level. RSI is looking for one move down before it enters oversold territory which has historically turned the stock bullish. Symmetry can also be observed on the RSI, which is quite nice.
CRNT Long Term Support HoldingSo far so good here. Hopefully we get a nice bounce Tuesday as all indicators showing oversold here.
CRNT Reversal imminentJanuary spells reversal here. CRNT coming up on the floor of the major bull trend lines. This one repeatedly flags on all the trend lines and has reached the bottom of the trading channels. Worst case dips into the high $1.00's intra day prior to the new year, but Sub 1$ is behind it baring any bad news. Good PR takes us back to the 1.30's *Bull Channel" or better here.
CRNT CapitulationMajor Bull Trend line identified along with recent bear channel. Today's capitulation touched the Major bull trend line before regaining ground to bottom of the current bear channel. Apparent floors below for stops if you are nervous just above $1.10 and 1$. Trading within the blue triangle until the holiday, then a Christmas breakout of the current bear channel.
