CRNC forming a massive cup and handle with perfect fib bounceAbout to break from the handle and retest ATH of 135. All EMAs are in support & the stock has bounced back from a good Fib retracement level
CRNC trade ideas
Cup and Handle! Long CRNCI am bullish on CRNC on the basis of a cup and handle formation that offers an attractive risk/reward. The cup and handle is a bit "broken" only because of a gap-up due to CRNC being added to an index. We have now closed that gap at $109 and it appears that the bullish move is ready to continue. I am eyeing two targets for this trade at the 0.786 fib line and near the previous ATH of $139 where it would likely face resistance.
Other considerations:
1. This move is dependent on growth stocks, so if Treasury yields rebound and it forces a risk-off market, this trade will likely fail.
2. Earnings are coming up and as we can see, CRNC is volatile, so expect a sharp move following the report.
TP1: ~$126 (+16%)
TP2: ~$137 (+25%)
Published trade statistics:
Win Percentage: 6/8= 75%
Avg Gain on Wins: 12%
Avg Loss on Losses: -13%
Weighted Avg P/L % : 5.98%
Pending Trades (including this post): 3
- Sultan of Chart
*This is not financial advice*
CRNC. higher high, and higher lowsI am looking for a move into the 130 to 135 range. this is coming off of higher highs and higher lows.
CRNC - Breakout + EMAsNot yet the time. A breakout here is needed together with the short EMA 50 to cross the longer emas
STRONGRed market is the time to find strong stocks for the coming green days! CRNC is acting strong today! will keep eyes on this! very attractive price action
CRNC, Aroon Indicator entered an Uptrend on December 28, 2020.Over the last three days, Tickeron's A.I.dvisor has detected that CRNC's AroonUp green line (see chart) is above 70, while the AroonDown red line is below 30. When the green line goes above 70 while the red line stays below 30, this is an indicator that the stock could be poised for a strong Uptrend. For traders, this could mean going long the stock or exploring call options in the next month. Tickeron's A.I.dvisor backtested this indicator and found 98 similar cases, 94 of which were successful. Based on this data, the odds of success are 90%. Current price $100.98 is above $61.60 the highest support line found by Tickeron A.I. Throughout the month of 11/24/20 - 12/28/20, the price experienced a +20% Uptrend. During the week of 12/18/20 - 12/28/20, the stock enjoyed a +3% Uptrend growth.
Bullish Trend Analysis
The Moving Average Convergence Divergence (MACD) for CRNC just turned positive on December 17, 2020. Looking at past instances where CRNC's MACD turned positive, the stock continued to rise, Tickeron A.I. shows that in 8 of 9 cases over the following month. The odds of a continued upward trend are 89%.
CRNC moved above its 50-day Moving Average on October 07, 2020 date and that indicates a change from a downward trend to an upward trend.
The 10-day Moving Average for CRNC crossed bullishly above the 50-day moving average on October 16, 2020. This indicates that the trend has shifted higher and could be considered a buy signal. Tickeron A.I. detected that in 2 of 2 past instances when the 10-day crossed above the 50-day, the stock continued to move higher over the following month. The odds of a continued upward trend are 90%.
Following a +7.98% 3-day Advance, the price is estimated to grow further. Considering data from situations where CRNC advanced for three days, in 77 of 85 cases, the price rose further within the following month. The odds of a continued upward trend are 90%.
The Aroon Indicator entered an Uptrend today. Tickeron A.I. detected that in 94 of 98 cases where CRNC Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are 90%.
CRNC Long Long Long PT : 97 -99CRNC is the leader in AI intergrated system with
cars, multiple contract with a lot of car maker including
tesla.
Cerence have been extremely obedient to its channel and
now its tries to take off that previous ATH. A nice pullback
has occured which is very bullish because we see a clear
rebound on the support.
Long entry at 93.97
1st PT : 97 and 2nd : 99
Stop loss 89.65 because i would personnaly average down.
CRNC had a very steady and crashes resilient.
CRNC, Aroon Indicator entered an UptrendOver the last three days, Tickeron's A.I.dvisor has detected that CRNC's AroonUp green line (see chart) is above 70, while the AroonDown red line is below 30. When the green line goes above 70 while the red line stays below 30, this is an indicator that the stock could be poised for a strong Uptrend. For traders, this could mean going long the stock or exploring call options in the next month. Tickeron's A.I.dvisor backtested this indicator and found 90 similar cases, 86 of which were successful. Based on this data, the odds of success are 90%. Current price $90.24 is above $61.60 the highest support line found by Tickeron A.I. Throughout the month of 11/03/20 - 12/04/20, the price experienced a +53% Uptrend, while the week of 11/27/20 - 12/04/20 shows a -0.08% Downtrend.
Bullish Trend Analysis
The Momentum Indicator moved above the 0 level on November 11, 2020. You may want to consider a long position or call options on CRNC as a result. Tickeron A.I. detected that in 19 of 22 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are 86%.
CRNC moved above its 50-day Moving Average on October 07, 2020 date and that indicates a change from a downward trend to an upward trend.
The 10-day Moving Average for CRNC crossed bullishly above the 50-day moving average on October 16, 2020. This indicates that the trend has shifted higher and could be considered a buy signal. Tickeron A.I. detected that in 2 of 2 past instances when the 10-day crossed above the 50-day, the stock continued to move higher over the following month. The odds of a continued upward trend are 90%.
Following a +9.73% 3-day Advance, the price is estimated to grow further. Considering data from situations where CRNC advanced for three days, in 71 of 79 cases, the price rose further within the following month. The odds of a continued upward trend are 90%.
The Aroon Indicator entered an Uptrend today. Tickeron A.I. detected that in 86 of 90 cases where CRNC Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are 90%.
$CRNC - monster move in 4months - strong up move on volumeI missed this stock earlier. Just came to my attention.
On Friday it moved up (again) strongly on big volume. A bit extended on weekly, but something to watch for better entry price.
Plenty of room for supportCRNC has plenty of room for support after its breakout. This will confirm the new trend.
$CRNC can rise in the next daysContextual immersion trading strategy idea.
Cerence Inc. provides A.I. powered assistants and innovations for connected and autonomous vehicles.
The share price rose after good earnings. I see some preconditions the share price will continue growing.
The demand for shares of the company still looks higher than the supply.
These and other conditions can cause a rise in the share price in the next days.
So I opened a long position from $35,14;
stop-loss — $33,71.
Information about take-profits will be later.
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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Thanks for being with me!
Fundamental Analysis CRNC Earnings CerenceCheck my profile for more info!
For my latest stock, I took a look at Cerence Earnings $CRNC Stock. Darth Bear got 1Pts, while Bull Solo got 6Pts! CRNC is a new publicly-traded company, so there are many things to keep an eye out.
CRNC is a software company the creates solutions to make your car "smart" Take a look if you want to invest in Software, Artificial Intelligence company.
Darth Bear Points
1)Since this is a brand new company, there is no shareholder return. It is highly likely the debt or dilution of shares will be done in the future for funding reasons.
*Notable mentions: This is the first quarter as a public traded company, so the 10Q and 10K reports don't have much "audited information."
Bull Solo Points
1) CRNC beat earnings and revenue!
2) Comparable sales for their three revenue segments have increased compared to the previous year.
3) Future plans can be seen from their R&D expenses, which is their highest operating expense. They are hiring more engineers and innovation personal!
4) Balance Sheet is looking good! 85% of total liabilities are made up of deferred revenue, meaning this company has a backlog of work! Total assets, unfortunately, have a massive percentage of Goodwill and Intangible assets.
5) The company sees revenue growth for 2020 of about 8%.
6) Analyst Estimate Future EPS and revenue is growing for the next two years. Giving Forward P/E ratio of about ~16.8, which is kind of high for my taste but not too horrible.
ETF's holding this company are:
$QTUM $XSW $RYJ
