$CELH
Added 2025-02-21 10:59:06 +0000 UTC$CELH reported yesterday and the headline is their acquisition of Alani Nutrition, which is likely the cause of the delayed announcement of their earnings date, followed by the very short notice on Tuesday about reporting on Thursday.
We knew it would be interesting and it was, up +31% in the PM now.
They needed to do something and acquiring to grow is something I do like to see.
I have shared the weekly chart above because I believe the 200 WMA is most relevant here, as the price kept extending to this MA in AH's yesterday.
First of all, we need to see how high this bounce goes first before knowing where the higher low can potentially come, so if we consider that the 200 WMA will offer resistance, then the green fib levels I have added now show where I expect a pull back to next.
The 0.618 Fib also aligns with the 50 Day MA at $27.57.
So the initial bounce now should not be chased, the Wave 2 level holding is the target.
