Canaan Could be a good entry opportunity if it closes the gap and bounces of it's weekly EMA support at 13$
So we have:
1. A potential retest of weekly 21 EMA
2. Closing it's Gap at 13$
3.A potential cup, and handle forming
The market is nuts right now+this is a volatile stock, if it goes below this range, i'm not touching it nor at the moment. ( Unless there will be a big bounce, and a closing candle on a daily chart above 50 EMA-18$ )
CAN/N trade ideas
CAN follows Bitcoin and jumps on Fed newsThe Federal Reserve now sees inflation running to 2.4% this year, above its previous estimate of 1.8%. The central bank now expects real gross domestic product to grow 6.5% in 2021, compared with its 4.2% forecast from its December meeting. The Fed estimates the unemployment rate will fall to 4.5% in 2021, below the previous estimate of 5%. Do your own due diligence, your risk is 100% your responsibility. You win some or you learn some. This is for educational and entertainment purposes only. Consider being charitable with some of your profit to help humankind. Good luck and happy trading friends...
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CAN: Bullish Pennant (67%)Bullish Pennant (67%)
Pros:
Volume during post formation
Descending volume during triangle formation
Golden cross in blue
PPS above 50MA and 200MA
RS above 0 and ascending
ATR Ascending
R/R ratio above 4
250RSI above 50
200MA ascending, barely
Target:
PT = 56.78$
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Perfect time to short..!Potential price drop: 30-40%
Reward/Risk:3
Timeframe: less than 1 months
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This stock is on fi-yaaaaaI am long on this stock, if BTC rises this will as well but today was a big run if you are looking in you should wait or dip your foot in at this level.
This stock will get up to about 40 tomorrow then correct down to 32 by Monday then you should buy it when it corrects because there will be no stopping it.
This stock was 18 last week and 6 dollars in January, it is on fire and it's not stopping.
Not a financial advisor, manage your own risk.
CAN Double bottom/Cup and HandleLooking nice with the chart pattern here with CAN. seeing what looks like a double bottom or cup and handle through 4h & Daily time frame. Plus added confirmation of Bitcoin breakout. CAN compared to MARA & RIOT, looks like there still room for price increase. leaning towards the long side on this one still.
CAN Bitcoin stock possible breakoutCAN above EMA 8, SMA 20, SMA 50, sma 150, and sma 200 in perfect alignment. Supported by PSAR dot about to switch below the candles. Leaning towards the bullish side on this one, similarly with RIOT and MARA. CAN should be priced above $20 of around $40 - $50 for me. Bitcoin and high market cap cryptos are breaking out bullish flag pattern as well.
Why cryptocurrency $CAN stock surged in February?$CAN stock surged in February as the extended rally in cryptocurrencies continued to boost $CAN stock.
CAN stock is particularly well-positioned to benefit as a maker of Bitcoin mining machines, presently scarce and in high demand.
Last week, Canaan announced “improved revenue visibility” for 2021 after receiving orders for 100,000 mining machines in North America, many of which were prepaid.
Canaan Creative is just the latest beneficiary of the recent rush into cryptocurrencies.
Founded in 2013, Canaan released the first ASIC-powered Bitcoin mining machine and is currently the world’s second-largest designer and manufacturer of BTC mining machines.
finance.yahoo.com
Mr. West Weekly note Report no. 11Trending up: CAN, MTSL, MVIS, COPT, RAIL, JBLU, GE, JETS, CSX, BOTZ, HERO, ZNGA,
Trending down: WPRT, NNDM, NAKD, CRON, ACB, PBI, AESE, SYN,
Consolidating: NCLH, XELA, AMC, REKR, UA, ROKT, DENN, MICT,
Today's notes will reflect the number of up trending, trending down and consolidating stocks that are on the List.
Based on this week, many of the stocks have been evenly distributed into the trending up, trending down, and consolidation categories. A great majority of stocks have been put into the trending up category. Once again, CAN has came up on top for this top trending up stock based on the volume of BTC increasing to 57,000 per bitcoin. In a recent news article by Newswires stated, "many purchase orders of mining machines were placed from Canaan and will likely occupy the current manufacturing capacity for the entirety of 2021 and beyond, according to the integrated circuit maker." This will increase the share price for the CAN stock that is trading at 23.90 a share.
CAN: Bullish pennant, awaiting confirmationBullish Pennant, awaiting confirmation
Pros:
Descending volume during formation
Golden cross in blue
Volume at break out
PPS above 50MA and 200MA
RS above 0, and ascending
ATR Ascending
R/R ratio above 9
250RSI above 50
200MA ascending
Target:
PT = 36.35$
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