Nearing new 52-week highI’m looking to see if this will test and breakout to a new 52-week high tomorrow. Multi-year resistance set around 46 for one of the most pronounced cups I’ve ever seen. Good gamma setup for Friday, February 19th.
CLSK trade ideas
CLSK - February 18, 2021CLSK potential for a second day play after reporting strong bitcoin mining revenues at 89% gross margins.
Bull Pennant Breakout on CLSKToday's big green candlestick on CLSK gave us the breakout over the bull pennant resistance. Price target of $70 based on the length of the flagpole.
Good ConsolidationThis hasnt run as much as MARA or RIOT, its going to pick up soon and can be a next pick.
$CLSK Crushed Falling Wedge setup$CLSK above short term target 1, looking for a consolidation phase before the 2nd target. Looks bullish still.
Short Term Target Area: 40
Cleanspark: road to 59$
The stock has consolidated after a correction in the 24$ level. Now is trying to bounce in a second Fibo impulse to 59$.
CLSK Long IdeaCLSK looks to be breaking out of long consolidation. Looking for higher prices in the days ahead. Watch out for earnings on the 9th
CLSK Long SetupVolume accumulation, pullback to the 50 fib, bouncing off support there. Looking for breakout to retest highs.
Implementing Heiken Ashi CandlesKEY POINTS:
Heikin-Ashi is a candlestick pattern technique that aims to reduce some of the market noise, creating a chart that highlights trend direction better than typical candlestick charts.
The downside to Heikin-Ashi is that some price data is lost with averaging, which could affect risk.
Long down candles with little upper shadow represent strong selling pressure. Long up candles with small or no lower shadows signal strong buying pressure.
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When paired with risk management tools, trading indicators can give you a clear insight into price movements. Heiken Ashi candlesticks resemble a typical Japanese candlestick, but several details differ from the traditional candlestick chart.
Every Heiken Ashi candlestick has an upper candlewick, a shadow (lower candlewick) and a body – much like the Japanese candlesticks.
However, a bar in the Heiken Ashi starts from the middle of the one before it and not where the previous one closed-a significant distinction.
Each candle has a high, low, open and close, and thus the Heiken Ashi formula has four segments.The opening level is the midpoint of the previous bar; the Close of each bar is the average of high, low, open and close.
If you’re aiming to catch persistent trends, then Heiken Ashi will be valuable.
NOTE:
However, day traders who need to exploit quick price moves may find Heikin-Ashi charts are not responsive enough to be useful. Also, due to no price gaps within Heikin-Ashi candlestick charts, risk management is harder to monitor. Using additional methods to watch risk is advised.
The formula for calculating Heikin-Ashi candlesticks is as follows:
Open= (Open of previous bar+ Close of previous bar)/2
Close = (Open + Close + High + Low)/4
High = the Maximum Price Reached
Low = Minimum Price Reached
*Hope this helped refresh your knowledge of Heikin-Ashi candlesticks or showed you a new trading strategy to use.
CLSK Topping?CLSK was a great momentum stock and then it really got going after they announced that they were buying bitcoin mining equipment. This was a red flag as bitcoin mining was never part of their primary business (they make microgrid software). So what the hell is a software company doing buying bitcoin mining equipment?? Hard to say exactly because the company seems to have their hands in a little bit of everything - but the chart is giving a clear warning sign. Additionally, the news feed is filled with lawsuits. Might be a decent short candidate if it breaks down.
CLSK up to 30% in 4 days thanks - rating upgrade and trend lineCLSK
- has got the Buy rating
- trend line
Plan
- Buy now 28.87
- sell 37
$CLSK in a falling wedge here.$CLSK has be in the red for the 5th time. It's now creating an inside day candle on support area. Looking for a break from this reversal pattern any day now.
Short Term Target Area: 31
Short Term Target Area 2: 40
Microgrids & Energy Management SaaS + Efficient Bitcoin MiningCLSK recently got affected by the COINBASE:BTCUSD pullback and attacked by short seller report. It is trading at a huge discount now. Cleanspark runs on a software-as-a-service (SaaS) distribution model and helps build microgrids. They have made a recent acquisition of a bitcoin mining facility ATL data center. This is a smart management that makes acquisition of great synergy, as the well known downside of bitcoin mining is the exorbitant electricity usage and costs.
The company has explicitly stated that their bitcoin mining would be profitable as long as bitcoin price stays above $6000. They can demonstrate the efficiency of their microgrid solutions on high-density energy operations through their own mining operations and will move towards the goal of mining bitcoins at the lowest energy cost in the United States.
Q3 Earnings 2020 (Not associated with bitcoins during then)
Nine-months ended June 30, 2020 Revenue of $8,073,781, up 283% from $2,109,542 in 2019.
Nine-months ended June 30, 2020 Gross profit increased 246% to $1,342,875, up from $388,054 in 2019.
Nine-months ended June 30, 2020 Net loss per share improved by $1.13 per share to $(2.32) from $(3.45) in 2019.
The future earnings reports from their bitcoin operations and actual use case will likely boost their core business and attract massive contracts. Upcoming Q4 earnings would include revenues from bitcoin and likely positive guidance for the rest of 2021.
I'm already in at $18 but am looking at $50, $80 or higher as price targets. Current price near $30 and $25 may be good levels to enter/add. Huge potential ahead, will have to see and act accordingly as it progresses through the year.
Shake out completeThis move looks a lot like the previous shake out.
The top was followed by a ~60% move down and should rebound here.
The last large move was ~11 up and ~4 down or about 40% pullback...if we follow the same trend, the pullback on the current move of +33 should have a down about 13-14 which would be around the 30 support level the stock is currently sitting on.
