Hello, today I have analyzed NASDAQ:CASA, Casa Systems Inc is a digital cable and broadband services company.
Casa Systems have loads going for them both technically and fundamentally. They had a great 2020Q4 earnings report and booked 26 purchase orders for 5G wireless,
these two combined catalysts saw the stock sore 25% in a single day.
Why It will sore
Price targets and Entries
My entry will be between $9.80 to $10.00 after I've seen some pattern confirmation.
My price target is set at $11.50 and I expect It to reach that level before friday.
My stop is set at $9.50 as It is a proven S/R level.
OBS
Note that this analysis is a little biased as I intend to enter a position on this stock.
Casa Systems have loads going for them both technically and fundamentally. They had a great 2020Q4 earnings report and booked 26 purchase orders for 5G wireless,
these two combined catalysts saw the stock sore 25% in a single day.
Why It will sore
- Price showing great long term strength.
- Wedge pattern forming with $10.10 being resistance.
Price targets and Entries
My entry will be between $9.80 to $10.00 after I've seen some pattern confirmation.
My price target is set at $11.50 and I expect It to reach that level before friday.
My stop is set at $9.50 as It is a proven S/R level.
OBS
Note that this analysis is a little biased as I intend to enter a position on this stock.
Comment:
This play did not plan out well, It rejected at the $10.09 resistance causing the price to plumit. Its showing good signs of recovering, I am considering getting back into this.