CAN looking lower still has not hit RSI of 30CAN (or CAAN) looking lower still has not hit RSI of 30.
They make computers for bitcoin mining and meanwhile their competitor is doing well, and rising in price, who knows whats really going on, i do not.
This should jump higher in a month or so- but it will continue fall (i think) but how much further could it go?
the last lowest low I could see was 1.75 or so - if we drop after that ??? maybe to $1 i guess
CAN trade ideas
CAN a mining company that should 50x when BTC lifts offCAN a mining company that should 50x when BTC lifts off
buy before BTC breaks all time high.
I set limit buys for $2.01 $2.20 $ 2.30 and a market buy just in case we never see these prices again.
I imagine there will be a crash this fall in all market taking CAN with it for a day and then it will lift off.
Once the market crashes people will realize that BTC and GOLD were the winners and pile in.
This is just like my play in RIOT and MARA see links below.
PUMP and DUMPon 6th of July, Canaan informed SEC that they would sell 13 million shares until 6th of August and they sold successfully. Because they need cash asap.
I wonder who dares to buy after this pump and dump operation while waiting for earnings report.
"Pump and dump" (P&D) is a form of securities fraud that involves artificially inflating the price of an owned stock through false and misleading positive statements, in order to sell the cheaply purchased stock at a higher price. Once the operators of the scheme "dump" (sell) their overvalued shares, the price falls and investors lose their money. This is most common with small cap cryptocurrencies and very small corporations, i.e. "microcaps". source:wikipedia
Target 1.40 USD. There is a delisting risk because of the Class Action lawsuit which seeks to recover damages for Canaan investors under the federal securities laws. Canaan Sued Over Alleged ‘Fake’ $150 million deal between Grandshores one month before the IPO. There is a lot of uncertainty which causes the stock price go lower.
Potential Long Breakout with $CANThe pattern is approaching the end of its chart pattern and a minor resistance line ($2.05). Once it passes this, this stock will go up to its next resistance line.
Looking at the daily chart pattern, the stock has already reached lower lows and I predict that it's time for it to go higher. The stock right now is creating a momentum/consolidating ready for the breakout. MACD also confirms this.
I'm predicting, when it crosses the diagonal chart pattern and its minor resistance line, it will have a huge bullish breakout.
Potential for ~$3.30.
CAN, Potential long entry , Low RSI entry on reversal strategyCAN
Specializes in manufacturing bit-coin mining components.
In 2013, Canaan invented the first ASIC mining machine.
In 2019, Cannan was second largest manufacturer of bitcoin mining machines in the world.
Company founded in 2013 but IPO'ed in 2019 on NASD.
Current news is not very positive, although it seems there has been a potential technical reversal, with support around $2
One good thing , Recently there has been increased hedge fund interest/positions ...
CAN's current RSI at 31.27
I am bullish but, in my opinion, CAN stock could go lower , especially based on massive drop in revenue , lawsuit issues and lack of positive news. Also book per share is only $0.59.
If it breaks this level of support it could fall quite a bit more but having said that I am bullish providing it does not break below $1.88. Needs some positive news to come out.
Took a position
Entry 2.08
Stop 1.88
Take Profit Approx $5
Either price discovery or price manipulation or lets lookEither price discovery or price manipulation or lets discover how we can manipulate this stock to a new low so we can buy it before Block chain Mining and A.I. blow up any more then they have already.
- yes this is an emerging market (speculation alert)
- yes this is a tech stock - (speculation alert)
- so the official story is that Bitcoin will be less profitable in the future as half the bitcoins are being produced every ten minutes for the next four years. But any crypto kid will tell you if the supply dries up by half then the price should increase. But this company just offered no guidance for the next quarter saying they don't know how they will make it because of too many factors... S0 they may be telling the truth and this company will not sell any products in the future because mining is not profitable at 10k a BTC. But what happens when BTC is worth 20 K next year? Will the company suddenly look profitable? Is some one to making this company look like it is having a bad quarter so they can buy more shares? If you look at the chart you will see massive buy's after a considerable sell off so some one believes in this thing. Including me.