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CANAAN INCCANAAN INCCANAAN INC

CANAAN INC

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Potential Long Breakout with $CANThe pattern is approaching the end of its chart pattern and a minor resistance line ($2.05). Once it passes this, this stock will go up to its next resistance line. Looking at the daily chart pattern, the stock has already reached lower lows and I predict that it's time for it to go higher. The stock right now is creating a momentum/consolidating ready for the breakout. MACD also confirms this. I'm predicting, when it crosses the diagonal chart pattern and its minor resistance line, it will have a huge bullish breakout. Potential for ~$3.30.
NASDAQ:CAN
by RyZi
CAN, Potential long entry , Low RSI entry on reversal strategyCAN Specializes in manufacturing bit-coin mining components. In 2013, Canaan invented the first ASIC mining machine. In 2019, Cannan was second largest manufacturer of bitcoin mining machines in the world. Company founded in 2013 but IPO'ed in 2019 on NASD. Current news is not very positive, although it seems there has been a potential technical reversal, with support around $2 One good thing , Recently there has been increased hedge fund interest/positions ... CAN's current RSI at 31.27 I am bullish but, in my opinion, CAN stock could go lower , especially based on massive drop in revenue , lawsuit issues and lack of positive news. Also book per share is only $0.59. If it breaks this level of support it could fall quite a bit more but having said that I am bullish providing it does not break below $1.88. Needs some positive news to come out. Took a position Entry 2.08 Stop 1.88 Take Profit Approx $5
NASDAQ:CANLong
by NAK1987
Either price discovery or price manipulation or lets lookEither price discovery or price manipulation or lets discover how we can manipulate this stock to a new low so we can buy it before Block chain Mining and A.I. blow up any more then they have already. - yes this is an emerging market (speculation alert) - yes this is a tech stock - (speculation alert) - so the official story is that Bitcoin will be less profitable in the future as half the bitcoins are being produced every ten minutes for the next four years. But any crypto kid will tell you if the supply dries up by half then the price should increase. But this company just offered no guidance for the next quarter saying they don't know how they will make it because of too many factors... S0 they may be telling the truth and this company will not sell any products in the future because mining is not profitable at 10k a BTC. But what happens when BTC is worth 20 K next year? Will the company suddenly look profitable? Is some one to making this company look like it is having a bad quarter so they can buy more shares? If you look at the chart you will see massive buy's after a considerable sell off so some one believes in this thing. Including me.
NASDAQ:CANLong
by altcoinnerd
Canaan Inc (CAN) The Hidden Gem!NEW FREE STOCK RECOMMENDATION: Canaan Inc (CAN) It’s not often that an investment posts an annual gain of several thousand percent. But cryptocurrencies find a way. Between the beginning of 2017 and Bitcoin’s near-$20,000 peak on December 15 of that year, the cryptocurrency gained almost 2,000% before selling off. It’s easy to think that this substantial run-up was a one-time thing and that you’ve missed the boat on massive Bitcoin gains like these. But actually, due to the supply shock that will result from Bitcoin’s upcoming block- reward halving event, an even bigger spike could still be ahead. And as you’ll see in a moment, there’s one obscure, sub $5 tech stock that is set to benefit from this event even more than Bitcoin itself. But before I get into the nitty-gritty technical details, we should probably explain what “Bitcoin’s upcoming block-reward halving event” means... As you may know, cryptocurrencies like Bitcoin are built on decentralized algorithms called “blockchains.” These are encrypted, immutable sets of records that determine the ownership of each individual coin at any given moment in time. People can earn Bitcoins by using their computing power to check and secure the blockchain’s records in a process called mining. In more detail, miners use their computing power to complete sets of calculations that help maintain the blockchain. Each set of calculations is called a “block.” And Bitcoin’s source code specifies a fixed schedule of rewards for miners — a predetermined number of Bitcoins earned per block, which decreases over time as more coins are mined. When the cryptocurrency first launched in 2009, miners could earn 50 Bitcoins per block. Then, in 2012, miners hit a milestone in the number of Bitcoins they had produced, causing the reward to be cut in half to 25 Bitcoins per block. In 2016, it was halved again to 12.5, triggering the huge run-up in price. And at 9:38 a.m. on May 12, 2020, it will be halved again to just 6.25 Bitcoins per block. There’s no stopping this process; it’s inscribed in the source code that makes Bitcoin, Bitcoin. Over time, the reward for mining new blocks will continue to be cut in half until the number of Bitcoins reaches 21,000,000 — the upper limit after which mining will become near impossible and is estimated to be in the year 2140. Each block-reward halving, including the one coming up in May, makes it much more computationally intensive to produce new Bitcoins through mining. This creates immense upward pressure on the price of Bitcoin by constraining its supply; the last few Bitcoin bull markets have coincided with halving events. It also creates an ever-rising demand for bigger and better mining computers. That’s where this sub $5 stock comes in... During previous bull markets, Bitcoin miners earned coins with homemade mining computers (or “rigs”) made out of graphics processing units (GPUs). These specialized computer chips are designed to handle the high-intensity calculations involved in gaming, video editing, and graphic design. But for a time, they also worked great for mining. In fact, the two biggest GPU manufacturers, Advanced Micro Devices (NASDAQ: AMD) and NVIDIA (NASDAQ: NVDA), have enjoyed spectacular bull runs in recent years, largely fueled by Bitcoin-related demand. But those bull runs are likely to end soon... after the upcoming block-reward halving on May 12, GPUs will no longer be powerful enough to mine Bitcoins profitably. The cost of electricity required to run GPU-based rigs will start to exceed the Bitcoin yields they can generate. This was bound to happen sooner or later; after all, GPUs are designed to render complex 3D images, not mine cryptocurrencies. Fortunately, there’s a new type of computer chip that is taking the mining world by storm ahead of the block-reward halving...one that’s specifically designed for Bitcoin mining. It’s called the application-specific integrated circuit, or ASIC. And there’s one mining company building souped-up, ASIC-based rigs that will remain profitable (unlike most rigs) after the halving event. That mining company is called Canaan (NASDAQ: CAN), and it trades for less than $4.75 Founded in 2013 and based in Beijing, Canaan is a specialized manufacturer of commercial mining computers. Its AvalonMiner product line includes a variety of ASIC-based rigs with different levels of computing power, ranging in price from $1,000 to $2,000. All of them are powerful enough to profitably mine Bitcoins after the halving event, making Canaan unique among mining rig sellers. In addition to selling rigs through its own website, Canaan partners with several major third-party rig retailers around the world, such as Austria’s Cryptouniverse, the Russian Association of Cryptoindustry and Blockchain, and the U.S.-based retailer BlokForge. It also has a growing roster of individual sales agents. The company is rapidly taking market share from its main rival, Bitmain, in the multibillion- dollar mining industry. This industry is projected to grow at a compound annual growth rate (CAGR) of 6.18% through 2024. With this in mind, Canaan is set to return many times its value over the coming months, and now is the time to buy. This May, when the block-reward halving renders other miners unprofitable, Canaan will cease to be such a secretive company — and early investors should be rewarded handsomely. CALL TO ACTION: Buy Canaan (NASDAQ: CAN) up to $4.75 Stay ahead of the masses, Seth Maniscalco Founder, Crypto Wealth Coach Owner, Modern Wealth Management #NoMore925 #ProfitsOverPaychecks
NASDAQ:CANLong
by smaniscalco