Corsair Gaming, Inc.Updated CRSR: W for Winners (at least partially)
CRSR bottomed out on March 5th and had one higher low so far, which is arguable but still counts as a bullish signal in a combination of the double bottom it has formed (green arrow icons). That combined with "widening" MACD and the fact that it has broken out of two different downtrend lines (yellow lines), the continuation of a full W is more likely than the bearish scenario (red arrows).
So from now, CRSR should hit 35 first, and retract to test the red line again. From there, there will be two scenarios depending on how the yield market is going to behave and influence Nasdaq.
The first and more likely scenario is to go up to 44. We had a nice bearish market which seems exhausted to some degree, making this scenario a more likely event. Of course, it won't be as pretty as I drew it but you get the idea!
The second scenario would be too ugly and is going to be similar to all other IPOs which usually crash after their initial run. If this scenario goes through, be cautious! Because in that case, my target (the red question mark) would be an "overestimation" and CRSR will be flushed further down the toilet. But again, considering the fundamentals of Corsair company including valuation, cash flow, profit margin, price per earning and etc., the ugly scenario is unlikely.
Thanks
So from now, CRSR should hit 35 first, and retract to test the red line again. From there, there will be two scenarios depending on how the yield market is going to behave and influence Nasdaq.
The first and more likely scenario is to go up to 44. We had a nice bearish market which seems exhausted to some degree, making this scenario a more likely event. Of course, it won't be as pretty as I drew it but you get the idea!
The second scenario would be too ugly and is going to be similar to all other IPOs which usually crash after their initial run. If this scenario goes through, be cautious! Because in that case, my target (the red question mark) would be an "overestimation" and CRSR will be flushed further down the toilet. But again, considering the fundamentals of Corsair company including valuation, cash flow, profit margin, price per earning and etc., the ugly scenario is unlikely.
Thanks
Note
How beautiful!!Note
Are we going with the second scenario? This needs a few days to be confirmed. The second scenario is very ugly. Watch this closely!Note
I had seen triple bottoms but a quadruple bottom is rare!
Market Maven: Never Miss a Move.
Disclaimer: This is not a financial advice and all posts are for educational purposes only.
Disclaimer: This is not a financial advice and all posts are for educational purposes only.
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Market Maven: Never Miss a Move.
Disclaimer: This is not a financial advice and all posts are for educational purposes only.
Disclaimer: This is not a financial advice and all posts are for educational purposes only.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.