Cricut’s Creative ComebackCricut (CRCT) is demonstrating strong bullish momentum, with a gap forming around the $5.25 level. A breakout above the $7.17 resistance would signal continued strength, positioning the stock to target the $8.40 weekly resistance. This setup offers an attractive risk-to-reward ratio, with a stop-loss set at $3.15 to manage downside risk.
The stock’s chart is forming a classic IPO bottoming pattern, suggesting that CRCT is poised for a long-term breakout. As the leader in the crafting industry, Cricut provides the number one tool for creators and hobbyists to bring their designs to life. With growing consumer demand for personalized goods and creative tools, Cricut is well-positioned to capitalize on this trend and deliver sustained growth.
This combination of technical momentum, long-term potential, and strong market leadership supports a bullish push toward $8.40, making CRCT a compelling play for both traders and investors.
NASDAQ:CRCT
CRCT trade ideas
Clean impulse on $CRCT - Wave 3 to follow
It had a clean impulse on the daily chart. Now with 61% retracement done, it would be a good idea to consider Wave 3.
Momentum Indicators are bullish on the weekly chart and it has taken a support from 40-week EMA. The candlestick is a hammer pattern as well.
Classic example of resistance turned into a support or in other words, breakout and a retest.
Morning Star Candlestick pattern on the daily chart which is a Bullish Reversal Pattern.
The setup has a Risk-Reward Ratio of more than 8 with the SL being recent low and profit level being the equality level by Elliot Wave method.
With parallel channeling, the approximate time for the trade can be expected around one month.
A great time to CraftArts and Crafts give individuals the ability for them to express themselves. Cricut is giving people endless opportunity to craft businesses, using the Cricut equipment in supplies. Cricut pullback %10 over the past two weeks. Cricut have a lot of cash on hand the business is booming. Good company to look at and own for a decade.
CRCT, Drop after earning may be a buy opportunity ! Positive earning report and negative reaction of market? Is it a buy chance? Lets follow.
Pre-Market price is near the golden ratio 0.618 Retracement ( around 27 USD) while earning report was positive and we had revenue growth. It may really be a buy opportunity.
Technically, CRCT seems to has completed a 5 leg up going wave and has made wave A and B of an ABC form of correction so far. We have a strong Potential reversal zone (PRZ) at around 27 USD composed of 0.618 retracement of the last wave cycle and 1.414 extension of wave B. Moreover, as shown on the chart, we had a price action to this support price when it was up.
As I publish this idea pre-market price is 29.5 just 2 dollars above the strong support. It can be a good trade opening a long position in the case of touching the support and showing the strong bullish reaction.
We set our stop loss objectively in the case of opening position. Market may not follow our expectations.!
$CRCT Breaking Out of High Tight Flag (HTF) FormationI've been watching this IPO for awhile. It seems to be breaking out of a HTF formation. Often times stocks with this type of power go on to double or triple in value. I'm not predicting, just placing the trade to see what happens. You can see my entry and stop on the chart. Ideas, not investing / trading advice.
$CRCT is giving a GREAT IPO SHORT opportunity todayIPO intraday trading strategy idea
Cricut is a creative technology company that has brought a connected platform for making to over four million users worldwide.
The share price is falling and gonna continue this trend today.
The demand for shares of the company still looks lower than the supply.
These and other conditions can cause a fall in the share price today.
So I opened a short position from $15,72;
stop-loss — $16,84
take-profit — $12,36/MOC price
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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