To continue from my previous post, CRNT has a major hidden bull RSI Divergence right before their earnings call. Coupled that with the long signal from weeks before from my script, it looks very promising.
Also, keep an eye out on my Fib resistance lines. CRNT has a nice pattern of playing on ...
A little known stock called Ceragon Networks will play a role in the rollout of 5G networks in the United States. With the earnings call coming in less than a week, I see this bullish stock to test the resistance around $4.07. I have this in my mid term portfolio til 5G rolls out.
Typically a cup and handle chart happens after a quick run up, with people taking profits and others assessing the stocks future capabilities to deliver additional returns. Ceragon has solid earnings, if the stock can gain momentum after the handle forms the potential exists for above average returns.
Here is what I believe is happening.
CRNT 0.00%is in a cup and handle pattern, with the initial handle under formation.
1. Its currently short term over sold
2. Initial Handle formation is in the process. It may be up to 30% of the cup and take support at 2.60.
3. Because of heavy bearish volume today and over the ...
CRNT has shown a nice rally and is currently hovering below resistance at 3.00. The range from 3.00 to 3.20 is an area of low volume, and so a break above resistance could bring us to 3.20 and beyond. RSI has also cooled down, and the chart seems to suggest a reversal in place.
Waiting for volume to bring us above 3.
CRNT 1 hour chart, see chart for my opinion. Will be looking at 1 mn & 5 mn charts for entry points of call trades this coming week. Three resistance areas are noted on this chart. Good Luck, next week!!