$CELH Finding Support?

CELH Has recently had 2 events: Earnings, which beat expectations and had an initial upward push on price then failed. Then it had a 3/1 stock split. One must wonder why the split as the market did not seem to like it.

The pullback, which is a little steep, may be finding support at both the most recent lows and a rising 40 Week MA (white). Of course, I do not know if it will be supported but I have an alert set on the downtrend line. Should it alert me, I will use a lower timeframe to see if there is a good risk reward entry. TBD.

CELH On a closing basis, just over a 27% drop in price, not too severe and may present a good opportunity. There are several negative things to be aware of on this chart and that is, it is below the 50 DMA and all other shorter-term MA’s. Another is the selling volume has been heavy but declining.

This is one you may want to put on a watchlist as it has been a wall street darling. Maybe again? Of course, several closes below the 40-week MA would tell me that this whole idea is void.

Ideas, not investing / trading advice. Comments always welcome. Thanks for looking.

Comment:

Looks like some nice consolidation here on $CELH. I have an alert set just over today's high. If it triggers I will look at a lower timeframe for my entry. All TBD.

Comment:

CELH is looking great here. I have a 1/2 sized position now and am well into the money. I am now using a trailing stop so this is now a no lose trade for me. I am hoping for some consolidation after running up over 10% in the last 2 days. Should it do that and resume higher I'll bring it up to a full sized position.