The Long Investor

$CELH

Added 2024-08-06 12:09:12 +0000 UTC

$CELH went within 1 cent of the 0.618 Fib which is always an incredible sight to see, especially as it was on the day of its earnings and held.

They then reported earnings and it was a double beat and demand still remains healthy.

Price has jumped +6% in the PM now and this is a good start.

Like a lot of charts right now, testing their 0.618 Fib and 200 Day MA, we have just received a test and not a confirmation now that these levels are now a support, so any entries right now must come with a risk attached to them, that the market can continue to show weakness and flush down again like we saw yesterday

However, in terms of R v R, buying at the 0.618 Fib of our calculated Wave C with the intention to hold long term is a smart approach but also DCA into a position.

Any price can still go lower to the next Fib support level, depending on market weakness