Clear upside to come NASDAQ:CAN is looking at a strong possible bullish reversal to the upside after it break up strongly above the consolidative range. Foresee 3.94 as a strong target
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−1.55 USD
−414.15 M USD
211.48 M USD
About Canaan Inc.
Sector
Industry
CEO
Nan Geng Zhang
Website
Headquarters
Singapore
Founded
2013
FIGI
BBG00QQ10GB3
Canaan, Inc. is a holding company, which engages in developing and selling Bitcoin mining machines and related services. It focuses on the development of green mining. The company was founded by Jia Xuan Li, Xiang Fu Liu and Nan Geng Zhang in 2013 and is headquartered in Singapore.
Canaan (CAN) Historical Pre-2020 Rally Setup ReformingI know, I know. Past performance is no guarantee of future results. But man, just look at that Bollinger Band constriction, the huge weekly RSI divergence, and the fact that the current setup lines up almost identical to the pre-2020 rally.
With China's liquidity taps back on and BTC looking primed
Yes We CANCanaan Inc. (CAN) has had several bullish developments recently. The company continues to focus on expanding its bitcoin mining operations and strengthening its balance sheet through strategic financing and share purchases. Some key highlights include:
Operational Growth: Canaan's bitcoin mining ca
CAN and the importance of consistency and disciplineCAN is a stock I've been trading frequently lately. See the chart above for its entire trading history.
It opened its first day of trading at 12.60 and closed yesterday at 1.21 - a 90% loss since day 1. This has clearly been a wealth destroyer and a stock most people would say to run from as fast
Canaan - long position 1300% Profit
Canaan stock has experienced a downtrend since March 2021 without any apparent reason. Despite this, it's essential to note that Canaan is one of the top Bitcoin Mining Companies, boasting a price to book value under 1 and having no debt. Additionally, they have successfully sold many miners in 202
CAN in triangleSince May CAN seems to have defined a small tringular formation
below an area of strong resistance, the breakout of the upper
part at around 1.20-1.25 could restart the positive trend towards
new relative highs, otherwise we could have new lows
CAN, HUGE growth prospect. Can't missed this!CAN, has recorded significant net buying this past few days with volume surging +70% from 2.66M to 4.32M. This is hinting of significant accumulation in anticipation of the awaited growth season.
On weekly histogram, the stock registered higher lows - the shifting interval is 6 months. This depicts
CAN Canaan Options Ahead of EarningsIf you haven`t bought CAN before the previous earnings:
Then analyzing the options chain and the chart patterns of CAN Canaan prior to the earnings report this week,
I would consider purchasing the 1usd strike price Calls with
an expiration date of 2024-5-17,
for a premium of approximately $0.08.
CAN it recover? Another strong weekly RSI divergence spottedCAN has been one of, if not THE, worst performing mining stocks this cycle.
Like the rest, it's completely decorrelated from the recent BTC price action and looks a little oversold to me.
Weekly RSI divergence been building really nicely though since end of December.
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