CHPT last quarterly earnings we're mostly on the optimistic side as EPS numbers are up -- beat by 11.43% (from expected figures).
On the weekly data, the stock net buy positions is increasing on a daily basis -- anticipating the company's long term price growth.
Volume is up by two folds from its average figures, from 15.69M to 33.87M. Net buying activity is up by more than 100%.
It is now sitting a 1.0 FIB LEVEL -- the most discounted price you could get. Best to seed at this price level. 8.0 to 9.0 price level has been a quite solid support historically.
Expect some significant bounce from the current price range.
On weekly histogram, higher lows has been created depicting that an upward price shift is about to commence.
OTHER KEY NOTES: WEEKLY descending trendline broken, 1st Bubble up volume (bottom indicator) appeared after almost 3 months.
Spotted at 8.0
TAYOR. Safeguard capital always.
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so far so good -- more to go.
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MACRO VIEW: WEEKLY DATA UPDATE
KEY NOTES: Weekly histogram SHIFT - HUGE HINT. Descending trendline breakout on weekly. Bubble up volume signal after few weeks
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MACRO VIEW: Weekly descending trendline break.
Patience will be rewarded soon.
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Long term shift attempt. About to enter the heat zone / break in structure area.
@shethbhavin1, It's back to baseline at 8.0. I wouldn't worry about it (as long as you're not leveraged). I'll give it time. A "ripe" stock likes to overextend correction before ascending.
shethbhavin1
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@JSAL, Yep, not leveraged but don't like it being stuck in 8's.
shethbhavin1
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@JSAL, Can this bounce back from its current level?
JSAL
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@shethbhavin1, I believe so, correction may overextend at times before ascending for good. It happened multiple times with the likes of UPST overextending correction below 15 before the significant price growth to 30. Fundamental is good on this one -- price should follow soon. Patience is key. :)
@shethbhavin1, yes. my seed base is at 8.0. Most 'ripe' stocks has to go through 'correction saturation' before it will reverse. Case study was CCL, RIVN, TSLA..
shethbhavin1
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is correction saturation doen for the CHPT then? thanks.