Looks as the stock is about to break the downtrend and get ready for the reversal.
Supply chain disruption held many manufacturing companies from driving up revenues and profits.
Yet, this is temporary and the fact the Corsair's management retained FY outlook for revenue is encouraging factor.
Crsr move down was in anticipation bad earnings. The stock did jump up today so i guess people are ready for this to put up better numbers when supply chain issues are resolved.
Falling wedge.
Bullish divergence with rsi.
I believe in this stock long term and think it will go back to 35$ + by the wnd of next year.
The apex of the wedge is approaching suggesting a breakout within the next few weeks.
The rsi is super bullish. Suggesting a price target at the top of the resistance level around 36.
Trendline break
Breakaway Gap
Short Entry 24.8
Stop 27
Target 18
Risk management is much more important than a good entry point.
The max Risk of each plan should be less than 1% of an account.
I am not a PRO trader. I trade option to test my trading plan with small cost.
Daily chart looks quite bullish with the RSI heading up while the MACD just turned green and is ready to widen green. Turn to the weekly chart and you will see what appears to be a double bottom playing out. The MACD is in the red for now and it looks ready to turn green while the RSI seems to be heading up. Hopefully this plays out and hits that line of...
Corsair holds double bottom line and has a nice green candle so far today. Looking for volume to pick up so we can rlly keep going up.
I like this stock longterm, great products.
Short term price targets: 30 and 33.
Resistance at 27.50 and 30.50
I have done some research on IPO reversals: they tend to happen around 50% off of IPO high. $CRSR did have a hype craze to it. Gonna put it on watch alongside $QQQ and tech stocks.
Did not surpass lowest close $25.61 yet. Double bottom at play.
Entry from below this price to the 0.886 level designated on chart.
Exit at the completion of 0.786 retracement/1.272 extension level.
Good luck, trade safely, and let's make that money!
Corsair is a great company - heavily shorted at 31% short as I write this!
If support can be had at $26 in order to retest the hard-to-break $30 line, we could see a change in trend.
High risk would be get in at $26. Otherwise, wait to retest $30 after a breakthrough. Only after you have done your own research & you "like the stock".
Please don't take trade...
Bullish pennant.
Looks ready to move up again.
First pt is the 200 MA 34$.
Long term play for me.
But a swing could present itself here for interested parties.
DYOR.
08/24/2021: Broke out of descending wedge pattern established in June
08/27/2021: RSI crossed over 50 line and has remained greater than 50
09/01/2021: 9 EMA crosses above 21 EMA.
09/01/2021: Awesome oscillator crossed over zero line and has remained greater than 0.
09/31/2021 - Present: Price has been rotating around a high volume node in volume profile...
