CELH 15-35% Short-term trade - Adam & Eve Breakout AlertCELH has formed an Adam & Even Pattern on all time frames. Most notably on the 4HR to Daily.
Clear V shaped "A" and widening U-Shape pattern forming "EVE".
Marked two overhead resistance zones at $35(+/-) and $42-$44(+/-) with a target of 33%(+/-).
Look for a throwback to breakout neckline, more aggressive traders will set stop-losses at the bottom of the Adam and less aggressive will place a SL at the bottom of the Eve pattern.
CELH price has been supressed and down 70% from peak prices. 3 of 4 quarters have posted positive Beats on earnings, and one Miss.
Issues surrounding the supply chains with Pepsi deal. Things should be smoothed out in due time.
Buy and Hold for maximum gain or play a short term trade to flip it.
Best!
Mark
