CAN has been one of, if not THE, worst performing mining stocks this cycle.
Like the rest, it's completely decorrelated from the recent BTC price action and looks a little oversold to me.
Weekly RSI divergence been building really nicely though since end of December.
Just publishing this idea to track how it plays out post-halving. I might take a small punt if...
Reloading this trade based on the chart breakout.
Very steep pullback after the last breakout.
Lets see if we now have the energy to continue moving higher.
The bottoming of the business cycle and rising
liquidity should now begin to drive bitcoin and Crypto assets higher.
Price to book value 0.62
Price to Tang. book 0.68
Price to free cash flow 1.86
Price to...
The bottoming of the business cycle and rising
liquidity should now begin to drive bitcoin and Crypto assets higher.
Price to book value 0.62
Price to Tang. book 0.68
Price to free cash flow 1.86
Price to sales 1.04
Value indicators point to a turn around.
Small Cap
Value
High beta
Technology
Nasdaq
Semiconductors
The company ticks all the right boxes for...
CAN, has recorded significant net buying this past few days with volume surging +70% from 2.66M to 4.32M. This is hinting of significant accumulation in anticipation of the awaited growth season.
On weekly histogram, the stock registered higher lows - the shifting interval is 6 months. This depicts an initial trend reversal move with the current price range as...
In a strategic move to fortify its position in the competitive crypto mining industry, Canaan, ( NASDAQ:CAN ) a prominent mining rig manufacturer listed on Nasdaq, has successfully raised over $50 million through preferred shares financing. The company aims to utilize the funds to enhance its research and development capabilities, expand production scale, and...
Analyzing the options chain and the chart patterns of CAN Canaan prior to the earnings report this week,
I would consider purchasing the 1.50usd strike price Calls with
an expiration date of 2024-1-19,
for a premium of approximately $0.77.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
Looking forward...
Not an investment recommendation. This chart was made for personal study and personal use only. If you liked the idea, please like it. If not, write why. In my humble opinion, the price will go up.
Canaan stock has experienced a downtrend since March 2021 without any apparent reason. Despite this, it's essential to note that Canaan is one of the top Bitcoin Mining Companies, boasting a price to book value under 1 and having no debt. Additionally, they have successfully sold many miners in 2023 to prominent companies like Clean Spark and others.
In our...
CAN looks like it's gearing up for another run before the halving as institutions load up on mining operators and gain exposure to crypto via public equities through derivative exposure.
The weekly timeframe would suggest that we are likely to get an opportunity to buy in the support zone at some point.
Have fun, trade safe!
Canaan stock has been in a downtrend since 2021.
Canaan is one of the top Bitcoin Mining Companies.
The price is approaching our buy zone. We expect one more drop and next the accumulation phase before the explosive move up.
If we see one more drop, probably RSI on the weekly timeframe will be even more oversold.
In our opinion this stock is very undervalued...
On the monthly chart, the price reached the liquidity area and then closed above it, indicating a successful liquidity grab.
Risk/Reward Ratio 2.86, the nearest profit level - 6.98 (+115% from current price).
Scenario cancellation - if the price reaches 1.85.
I have grabbed 1470 shares by 3.4091 for my investor
*The analysis is purely the author's subjective...
I believe within 2 weeks it will touch 4.65 to 4.75 Minimum.
What your suggest should i sell my 500 share at that price. My cost 3.72$ Total Holding 500shares.
Loading up on these Bitcoin Miners, think they will outperform most and they looked bottomed, should give you a good 10x-20x and get over ATH's by the time this is over.
