$CLS - RC -
Added 2023-12-08 06:37:21 +0000 UTC$CLS has been moving very well this year and in line with the strong performers of the market and also looks like it is in Wave 5 too.
Held above the 1.618 Fib level which we know is the standard Wave 3 level, so finding support above this level is a good sign.
Price also found support on the 50 Day MA which was exactly on the 1.618 Fib level, this is called a strong confluence level when both indicators meet at the same point.
I believe this will continue going higher to between $30-$32....anything higher than this would result in an extended Wave 5....which is not uncommon.
Comments
On the fundamental side, CLS is expecting $7.9B in revenue next year. Current market cap is $3B. Moreover, P/E is half the sector median. Good geographic diversification and a growing play in AI.
Rushabh S
2023-12-08 21:11:33 +0000 UTC
