$CELH
Added 2024-05-28 17:04:16 +0000 UTCDown -16% today on a catalog of bad news to start the trading week.
According to media reports citing a note from Morgan Stanley analyst Dara Mohsenian, Celsius’ sales growth and market share are moving in the wrong direction in recent weeks.
It has also been reported that someone has died due to liver failure and it was mentioned that he drank 2 Celsius drinks per day
Insider selling took place last week
and there is talk of an offering.
The bounce for Wave B was looking like it was going to break above the previous high but we still had this as an ABC move.....and it looks like $CELH is firmly in Wave C now.
A drift down to their next earnings report in August would be a good opportunity to complete Wave C and possibly start a position then
Comments
To offer an alternative, this could still be in wave 5 of 5. The bounce today happened at 61.8% of the move up listed as B, so a lower high up in the low 90's and reversal would confirm wave C would it not? There's a bull case for an extended wave 5 that could reach 133-150. Just curious with stocks such as these where it's unsure if it's finished 5 waves or 3 why not list both possibilities? Like SPY
Byron Tanigawa
2024-05-29 06:30:48 +0000 UTC
