Long Trade in CELH
The energy drink maker has always been a mover. The stock trends well and routinely makes 50% moves in a few weeks or months.
The stock was a big leader in 2022 and actually rose more than 100% in the middle of the bear market.
It has since pulled back but it is again showing a lot of strength.
Shares ripped through the 200-day moving average to reclaim their long-term uptrend on heavy buying volume. And after three inside days, it pushed to new highs on Friday.
CELH reports earnings Tuesday after the close. All signs point to them beating expectations, but I still wouldn’t risk the farm on it. I would prefer to buy Wednesday morning on a small gap higher.
The stock was a big leader in 2022 and actually rose more than 100% in the middle of the bear market.
It has since pulled back but it is again showing a lot of strength.
Shares ripped through the 200-day moving average to reclaim their long-term uptrend on heavy buying volume. And after three inside days, it pushed to new highs on Friday.
CELH reports earnings Tuesday after the close. All signs point to them beating expectations, but I still wouldn’t risk the farm on it. I would prefer to buy Wednesday morning on a small gap higher.
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