What are the target price for CANPotential gain:+100%
Reward/Risk:+5
Timeframe: 3-6 months
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CAN/N trade ideas
Yes we CANCanaan (CAN), is a company that manufactures hardware for mining Bitcoin. In its press release, Canaan's management let investors know that it has a really good idea of how its business is going to go: It's going to be running at full capacity. The company has preorders for over 100,000 Bitcoin-mining machines. Do your own due diligence, your risk is 100% your responsibility. You win some or you learn some. Consider being charitable with some of your profit to help humankind. Small incremental steps work : If you double a penny a day for a month it = $5,368,709. Good luck and happy trading friends...
*3x lucky 7s of trading*
7pt Trading compass:
Price action, entry/exit
Volume average/direction
Trend, patterns, momentum
Newsworthy current events
Revenue
Earnings
Balance sheet
7 Common mistakes:
+5% portfolio trades, risk management
Beware of analysts motives
Emotions & Opinions
FOMO : bad timing
Lack of planning & discipline
Forgetting restraint
Obdurate repetitive errors, no adaptation
7 Important tools:
Trading View app!, Brokerage UI
Accurate indicators & settings
Wide screen monitor/s
Trading log (pencil & graph paper)
Big organized desk
Reading books, playing chess
Sorted watch-list
Checkout my indicators:
Fibonacci VIP - volume
Fibonacci MA7 - price
pi RSI - trend momentum
TTC - trend channel
AlertiT - notification
www.tradingview.com
CAN has a Can-Do SpiritGIven this nicely trending chart here for Canaan, I decided to take a deeper dive into its profit potential.
The best buy-in was around low 5 to high 4s. Our clue to bullish movement was the gap at around 6.10, 6.09 so that had to fill eventually. And, once the short term resistance line from the early January peek was broken on the 4th, we confirmed some more upward movement. That gap should fill Monday 2/8/21 or Tuesday 2/9/21.
After that, hold until low 7s as this thing tends to really pop on bullish signals as indicated by the last two runups. We could blow past it to the ATH at high 8s.
Blockchain miner circuit maker
Canaan, Inc. designs and sells integrated circuits. It offers Kendryte AI and Avalon Miner products. The firm is a developer of supercomputing chips and the manufacturer of digital block chain computing equipment as well as the supplier of overall scheme for computer software and hardware of digital block chain. The company was founded by Li Jiaxuan, Liu Xiangfu and Zhang Nangeng in 2013 and is headquartered in Hangzhou, China.
CAN on path to a Bitmain IPO valuation ~20B.I call a cup & handle on log daily with clear bottom. Based on BTC mining performance HUTMF, HVBTF, NCTY, RIOT, BTBT, MGTI, capital should flow into Bitmain's competitor. CAN has RISC-V chip developments which will reduce power consumption greatly for BTC mining. Target is 1 year out - Another filing for Bitmain IPO will send CAN toward $100 - 200.
Mr. West Daily notes Report no. 6Trending up: CAN, DENN, ZNGA, GE, NIO, SNE, PBI, BOTZ, HERO, MICT,
Trending down: SAVE, JBLU, CRON, NKLA,
Consolidating: REKR, DASH, ROKT, AESE, JETS, NCLH, ABNB, UA, ACB, MVIS,
On this date, January 4th, 2021 is the first year the U.S. economy has had severe virus that has taken many lives. It has also crippled many businesses. However, many other businesses became big brands and provided a service for many people to thrive online. Looking at this past year, I have learned a lot. I have learned that there are many ways of investing. The goals of capturing the real estate parcels and invest capital into rental properties was ideal. However, getting the capital is difficult to collect. So, by investing in the stock market, crypto market, and day trading in the stock market is a way to expand the money routine of gaining capital wealth.
Looking at the morning market list, most of the stocks have been consolidating for this first week of January. The market has been trending up in certain sectors like the Cryptocurrency. The company Canaan Inc. (CAN) has shown great signs of an up trend due to Bitcoin surging past 32,000 a coin. Since CAN is a crypto mining software company that creates instruments to mine cryptocurrency helps this stock in sales when the crypto market is surging.
Needless to say I predict that CAN will rise more and more by the end of this week. Pre-marketed at 7.22 a share, this company has shown many attributes of gaining a support over 7.50 a share.
Canaan - super computing block chain miner productsCanaan, Inc. designs and sells integrated circuits. It offers Kendryte AI and Avalon Miner products. The firm is a developer of super computing chips and the manufacturer of digital block chain computing equipment as well as the supplier of overall scheme for computer software and hardware of digital block chain. Do your own due diligence, your risk is 100% your responsibility. You win some or you learn some. Consider being charitable with some of your profit to help humankind. Small incremental steps work : If you double a penny a day for a month it = $5,368,709. Good luck and happy trading friends...
*3x lucky 7s of trading*
7pt Trading compass:
Price action, entry/exit
Volume average/direction
Trend, patterns, momentum
Newsworthy current events
Revenue
Earnings
Balance sheet
7 Common mistakes:
+5% portfolio trades, risk management
Beware of analysts motives
Emotions & Opinions
FOMO : bad timing
Lack of planning & discipline
Forgetting restraint
Obdurate repetitive errors, no adaptation
7 Important tools:
Trading View app!, Brokerage UI
Accurate indicators & settings
Wide screen monitor/s
Trading log (pencil & graph paper)
Big organized desk
Reading books, playing chess
Sorted watch-list
Checkout my indicators:
Fibonacci VIP - volume
Fibonacci MA7 - price
pi RSI - trend momentum
TTC - trend channel
www.tradingview.com
Under MA. Look for a pop soon.Revenue has been spotty and needs to prove that this is a long term price action upward for support. We should see some new movement into the $5 range as chip companies have been making crazy gains however I see investors are very hesistant to enter here without seeing this company show long term profitability.
An IPO price above $12 seemed a bit much for this stock at that time and still does to me. I am looking for a price target of $5
$CANCanaan Inc (NASDAQ:CAN) has been on fire the past few weeks, and looks ready to make another upside move. The stock broke out of a consolidation range in the last trading session on heavy volume. Thursday’s high was $6.30, which is resistance for Monday’s continuation move. As long as the stock stays above the $4.70 area, the bullish scenario is still intact.
$CAN PT 20 and higherCanaan Inc. engages in the research, design, and sale of integrated circuit (IC) final system products by integrating IC products for bitcoin mining and related components primarily in the People's Republic of China. It is also involved in the assembly of system products; and supply chain and distribution of system products. The company has a strategic cooperation with Northern Data AG in the areas of artificial intelligence development, blockchain technology, and datacenter operations. The company was founded in 2013 and is based in Hangzhou, the People's Republic of China.
$CAN PT 13 and higherCanaan Inc. engages in the research, design, and sale of integrated circuit (IC) final system products by integrating IC products for bitcoin mining and related components primarily in the People's Republic of China. It is also involved in the assembly of system products; and supply chain and distribution of system products. The company has a strategic cooperation with Northern Data AG in the areas of artificial intelligence development, blockchain technology, and datacenter operations. The company was founded in 2013 and is based in Hangzhou, the People's Republic of China.
Waiting for ascent through triangleLooking very poised for a bull run shortly. Has been hovering below the Bitcoin stocks action the past few weeks. Look for this to get some attention with it being so cheap. The one market that isn't saturated for bitcoin just yet is the chip market. There will always be demand for new chips and boards. Look for attention soon. Looking for a price target north of $5.50
$CAN is gonna fall todayPupm&Dump trading strategy idea.
$CAN is rising without clear preconditions today.
The demand for shares of the company looks lower than the supply.
This and other conditions can cause a fall in the share price today.
So I opened a short position from $4,00;
stop-loss — $4,12;
take-profit — $3,76;
Do not view this idea as a recommendation for trading or investing. It is published only to introduce my own vision.
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