game_trader

$CRSR - reversal is next door?

Long
NASDAQ:CRSR   Corsair Gaming, Inc
No long description for this chart - it tells it all.

The downward trend since end Jun crossing all Fib level and touching the bottom @ 25 and starting bounce back.
Trade active: Broke long downtrend, closed above 0.78 fib-level
Key level to break is 28.5
Trade active: Hovering @ 0.5 fib-level (though it's not Fib number per se), which is also a key level to hold. Once hold, next target is 0.38 fib-level and key resistance @ 31.

With quite high short ratio on the stock the upward move can go quite fast to the analyst targets of ~ 35-40 and consolidate there until major catalyst (e.g. earnings).