$CAN is gonna fall todayPupm&Dump trading strategy idea.
$CAN is rising without clear preconditions today.
The demand for shares of the company looks lower than the supply.
This and other conditions can cause a fall in the share price today.
So I opened a short position from $4,00;
stop-loss — $4,12;
take-profit — $3,76;
Do not view this idea as a recommendation for trading or investing. It is published only to introduce my own vision.
Always do your own analysis before making deals. When you use any materials, do not rely on blind trust.
You should remember that isolated deals do not give systematic profit, so trade/invest using a developed strategy.
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CAN trade ideas
Mr. West Daily notes Report from stock market listTrending up: MVIS, JETS, CCL, NCLH, GE, CRONOS, NIO, DENN, JBLU
Consolidating: MICT, UA, ZNGA,
Trending down: NKLA,
AESE is consolidating and trending up. It is gaining support. However, it is also showing signs of consolidating from it's down trend momentum. Thus, it has gain support right above .90 cents a share. (See link below for chart.)
CAN had a raise in share price since Nov 2020. It started gaining momentum the week before Thanks Giving. The price of its shares seemed to be overbought. It was on a uptrend. However, it is on the steep decline within a short distance. (See link below for chart.)
First Breakout Completed, 2nd Breakout at 2.43 coming soonFirst breakout was completed at 1.94 (Major breakout, since IPO)
Second Break out is coming soon (next week) at around 2.43
Double bottom was formed around 1.80-1.90
Weekly doji morning star was formed
5th touch at falling wedge pattern is coming which will lead to breakout at around 2.43
On watch for a play here for *CAN*- Will be following this stock here at this point on. My plan on chart.
Canaan, Inc. designs and sells integrated circuits. It offers Kendryte AI and Avalon Miner products. The firm is a developer of supercomputing chips and the manufacturer of digital block chain computing equipment as well as the supplier of overall scheme for computer software and hardware of digital block chain. The company was founded by Li Jiaxuan, Liu Xiangfu and Zhang Nangeng in 2013 and is headquartered in Hangzhou, China.
CAN looking lower still has not hit RSI of 30CAN (or CAAN) looking lower still has not hit RSI of 30.
They make computers for bitcoin mining and meanwhile their competitor is doing well, and rising in price, who knows whats really going on, i do not.
This should jump higher in a month or so- but it will continue fall (i think) but how much further could it go?
the last lowest low I could see was 1.75 or so - if we drop after that ??? maybe to $1 i guess