looks like we are going to take a break and consolidatelooks like we are going to take a break and consolidate
It could go higher but i prefer to pick up more at lower prices first
CAN trade ideas
PUMP and DUMPon 6th of July, Canaan informed SEC that they would sell 13 million shares until 6th of August and they sold successfully. Because they need cash asap.
I wonder who dares to buy after this pump and dump operation while waiting for earnings report.
"Pump and dump" (P&D) is a form of securities fraud that involves artificially inflating the price of an owned stock through false and misleading positive statements, in order to sell the cheaply purchased stock at a higher price. Once the operators of the scheme "dump" (sell) their overvalued shares, the price falls and investors lose their money. This is most common with small cap cryptocurrencies and very small corporations, i.e. "microcaps". source:wikipedia
First Target 2.85After a consolidation period, stock price started to go upside with a heavy volume. All leading technical indicators signal the upside move. Especially Bollinger Band is about to breakout. Sharp move to upside can be expected. Company fundamentals are improving QoQ.
Target 1.40 USD. There is a delisting risk because of the Class Action lawsuit which seeks to recover damages for Canaan investors under the federal securities laws. Canaan Sued Over Alleged ‘Fake’ $150 million deal between Grandshores one month before the IPO. There is a lot of uncertainty which causes the stock price go lower.
Buy soon in the next month or so and maybe during the electionWhen this descending wedge comes to an end - we are drifting down in price discovery and waiting for everyone else to discover it. Sell in 2021 and 2022 during the next bull run on BTC.
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.
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
CAN Low RSI (35) with potential reversal on technicals . Fundamentals OK 6/10 .
Profit Level unknown will raise my stop daily to protect profit.
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.
I Am Getting An Education In Manipulation!This Market is So Dishonest & Manipulated!
I had to wait for Confirmation to publish my next "Pick."
I Bought 6000 shares of CAN .
Looks like the Stock has to Close @ $3.36
And, exceed $3.45 to sustain n Uptrend.
$CANWith this wedge, those who didn't get in has another chance of getting in before we take off.
This would be a nice long term investment.
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
Canaan, Inc. tradeCanaan, 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.
Canaan GOOD OPPORTUNITY TO BUY21 Nov 2019 Canaan market opened.
In my opinion, I would buy long, it may go down but you guys know it happens. when there is a new asset in the market, we know where to go.
I put money on this today, I will be leaving it for 3 months and see where it's headed.
