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Canaan Inc.

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CAN trade ideas

WATCH $CANBullish Fundamental - High inflationary Macro environment / no fear sentiment - Funds Accumulation/Distribution - Decent PE - Decent PEG - Decent P/FCF - Top Sector / Industry / Leader Technical - Momentum Theory Indicator - Bottomed - Price action formation ( falling wedge ) - Broke Trend line - Below 200MA - Below POC - ST not ok - Bullish Candlestick pattern / formation Entry idea - For members Stop loss depending on entry and risk appetite. But always set meaningful stops. " All things are difficult before they are easy" Cheers and happy trading!
NASDAQ:CANLong
by nexxtrade
CAN Megaphone and Wyckoff Accumulation PatternCAN is printing a Broadening Bottom Megaphone pattern on the CAN daily chart; the RSI looks to be increasing on the price lows indicating increased momentum. Zooming out it also looks like an accumulation pattern has been forming over the past several months. The megaphone may work as the "Spring / Test" stages for Phase C if it plays out and bring the price back up into the recent trading range. If the Megaphone breaks down, then it may be a take a while to climb back. I am not a financial advisor or professional trader by and stretch, so please do your own research.
NASDAQ:CANLong
by chimera_brendo
Canaan reversal coming soon. Technicals: RSI is oversold and looks like it is reversing. The price has also reached a long term support of around $4.6. Fundamentals: Canaan stock has a high correlation with the price of Bitcoin as they produce the hardware to mine Bitcoin. The market cap is under $850 million. The bullish news is the sale of 30000 of their flagship Avalon mining kits to Genesis Digital Assets (buried in their latest SEC filing investor.canaan-creative.com). The price of the latest Avalon miner is between $6500-$8500 (cryptominer.deals). This equates to around $180 million in sales (if we use a lower end cost of $6000 per miner). Genesis Digital Asset also has the option to purchase an additional 150000 units in the future (the total options are for 180000 units minus the purchase of the recent 30000 units). If that sale goes through, its an additional $900 million in sales which could make this stock highly undervalued. The rise in bitcoin price will cause the stock price to also rise alongside. This may be a good long term hold. Price target: $15+ Note: This is not financial advise. Please do your own research.
NASDAQ:CANLong
by CryptoPaily
August 2021 - CAN - in Daily chart, since it rebound at Fibonacci .618 from the lowest price, there is high probability it currently forming the third wave of Elliot Wave. - DMI is indicating strong uptrend and Stoch indicating there is few days of uptrend before market decide to continue uptrend or to do correction. - RED resistance lines are for reference to exit and reentry. - in Weekly chart, although DMI is showing uptrend, it is still weak signal and Stoch also not yet confirm to continue uptrend or to break downwards. - in Monthly chart, DMI indicates strong uptrend and Stoch indicates the beginning of uptrend. - although it may going upwards, since it is a Monthly chart, with factoring in the analysis from Daily and Weekly charts, and considering the low price, expect strong turbulence during the upward journey. "Market is always right"
NASDAQ:CANLong
by wanjebat
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