Channels with the vertical lines being the middle point
Recovery movement back up to the previous resistance
I have tried to show this move with the bars pattern tool
CRNT hit the textbook 50% fib retracement buy zone. Because it is a pretty volatile stock, I like to use the 78.6% retracement as the stop loss to give the trade more room to be right. That would mean putting on a smaller position to take on the added risk from a wider stop.
NOTE: Earnings are soon, so be careful if you are going to take this setup
- Stock is at...
Another Israeli company traded on the crack, similar to its companies recently, is also flourishing in its field after none other than the fund manager Ark decided to invest in the company
Ceragon Networks deals with the 5G world and everything around it, without a doubt it has more to grow in this futuristic field.
Technically it seems that the company has...
CERAGON has formed an Adam & Adam, a triple bottom with a bottom mirror level. RSI is looking for one move down before it enters oversold territory which has historically turned the stock bullish. Symmetry can also be observed on the RSI, which is quite nice.
January spells reversal here. CRNT coming up on the floor of the major bull trend lines. This one repeatedly flags on all the trend lines and has reached the bottom of the trading channels. Worst case dips into the high $1.00's intra day prior to the new year, but Sub 1$ is behind it baring any bad news. Good PR takes us back to the 1.30's *Bull Channel" or better here.
Major Bull Trend line identified along with recent bear channel. Today's capitulation touched the Major bull trend line before regaining ground to bottom of the current bear channel. Apparent floors below for stops if you are nervous just above $1.10 and 1$. Trading within the blue triangle until the holiday, then a Christmas breakout of the current bear channel.
