$CELH - RC -
Added 2023-11-03 00:24:00 +0000 UTC$CELH announced a 3 for 1 stock split today. Which is uncommon for a company that is only on the market for the last 4 years to announce....that being said, the share price has gone from $3 to $206....so I believe there is merit in this decision.
This will likely attract more people to $CELH too.
But I have two scenarios here, if the price can hold on the 200 Day MA which is just at the yellow channel trend line, then it can move higher for Wave 5 as I really like how Wave 3 topped out at the 1.618 Fib exactly.
Second scenario, mainly because this has grown so aggressively is that we can see 3 strong waves up, until we make a new high here can not I rule out the corrective wave....so if the price goes below the 200 Day MA, then it is into the bear case and may come down significantly.
For now, I am leaning towards the impulse wave.
