Tight correlation to BTCCAN, EBON, MARA, RIOT, All sharing the same price action as BTC.
I plan on longing CAN due to BTC not finished with its bull run.
Expect corrections along the way!
CAN trade ideas
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 shortnice short for CAN
Tried to test resistance around 25$ and got rejected..
Im planning to buy it back around 19.20$
Not financial advice!
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
CAN CALL April.16th 22.50 strike bought can calls today:)
hoping for a nice return and a great breakout play like my riot calls had.
CAN is related to mining bitcoin just like riot and other Crypto tickers
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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CAN FollowupAfter reaching ATH, closed part of the positions as planned.
It might consolidate with a bull flag or a cup and handle. Possible consolidation scenarios in the chart.
But it might directly continue to run if BTC gets crazy.
Long term targets in rectangles.
$CAN Announced all time high purchased bitcoin mining machinesCanaan Announces Improved Revenue Visibility in 2021
today announced that its revenue visibility has improved substantially in 2021 as a result of attaining purchase orders totaling more than 100,000 units of bitcoin mining machines from customers in North America. Many of those purchase orders were placed with prepayment and will likely occupy the Company’s current manufacturing capacity entirely for the full year of 2021 and beyond. With those fully committed purchase orders, the Company now enjoys a much higher degree of revenue visibility and more precise forecast. As such, the Company is able to leverage such information and additional liquidity to conduct its component purchases, production scheduling, warehousing and logistics.
In late 2020, we shifted our client base to mostly publicly traded companies and bitcoin-focused investment funds which tend to place sizable orders with longer-term commitment. As a result, we can now forecast our revenue much more precisely.
This development from Canaan isn't a total surprise. After all, the price of Bitcoin has risen dramatically in recent months, and that attracts more miners to the pool. When more miners join the Bitcoin blockchain network, it adds to the hashrate. According to Blockchain.com, the total hashrate for Bitcoin has spiked to all-time highs in recent days.
finance.yahoo.com
www.fool.com
Multi-day runner$can is enjoying a news catalyst from 2/9. This chart has several technical pattern formations including 52-week high, all-time high, cup and handle breakout; and is currently consolidating within an ascending wedge formation. I'm looking for Wednesday, February 17th's pre-market to break above the multi-day upward consolidation trend line and test the 9-day at resistance of 21.5.
Is this the right time to take profit?I made the first call to buy can 3 months ago when it was 2.63, and talked about a new all time high..!
I believe this week is a good time to take capital and some profits out and enjoy the free ride!
What are the target price for CANPotential gain:+100%
Reward/Risk:+5
Timeframe: 3-6 months
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US stocks (CAN)1- Exit from a transverse area
2- Trend breakout
3- Re-test the trend
4- Recoil at high volume
Yes we CANCanaan (CAN), is a company that manufactures hardware for mining Bitcoin. In its press release, Canaan's management let investors know that it has a really good idea of how its business is going to go: It's going to be running at full capacity. The company has preorders for over 100,000 Bitcoin-mining machines. Do your own due diligence, your risk is 100% your responsibility. You win some or you learn some. Consider being charitable with some of your profit to help humankind. Small incremental steps work : If you double a penny a day for a month it = $5,368,709. Good luck and happy trading friends...
*3x lucky 7s of trading*
7pt Trading compass:
Price action, entry/exit
Volume average/direction
Trend, patterns, momentum
Newsworthy current events
Revenue
Earnings
Balance sheet
7 Common mistakes:
+5% portfolio trades, risk management
Beware of analysts motives
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FOMO : bad timing
Lack of planning & discipline
Forgetting restraint
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$CAN- crypto mining playBroke resistance, look for it to hold above resistance for new support level
