Hi, just like to share this. Not the biggest fan of trading on candlesticks, but here goes. On the chart you can see my poor attempt at drawing the second most bearish candlestick. Just based on this evolving its a sell.
Rising wedge...
Also. CTO, director, and marketing director sold shares. Follow the money, take profit, dont be greedy? I got this as a short....
Twin 0.382 retracement coinciding with a channel support line.
Crayon has a habit of extending 1.618 of previous run before a correction (wave 3 = x1.618 wave 1), ranging back to 2018. If these extensions were applied to Wave 3 and to Wave 1→ peak Wave 3 and with a target being the channel resistance it would lead to a target somewhere within the red bubble in...
Crayon looks to have entered a bullish pattern closely resembling the elliot wave theory. Support and resistance levels fit well with what is expected to see in a fibonacci and elliot wave combination. RSI shows the stock has not been this underbought since March. Support at 105 and price target is set to about 184 in January. If Crayon falls through the 105...
Crayon is in general struggling with low-volume. However, end of day price action has been positive last weeks.
Convincing growth and strong market position leave no doubt that the fundamentals will deliver.
If able to keep above 50 MA with volume on Monday, should test TP1 and eventually TP2 during July.
Crayon is a cloud company with a significant position in the Nordic market and access to markets across the world.
There is substantial room for growth, both in their dominant Nordic area and other geographies.
They have just collected 30 MUSD targeted for M&A
I expect them to consolidate around the support zone for 7-14 days and start climbing towards a...
Trendline shown here functioned first as support, then as resistance for the last 6.5 months since beginning of april. By failing to move above it at the second attempt nov 20th, I would expect the stock to enter into a new trend. That trend can be down, sideways, or up at a slower rate than it has been going so far. Time to secure profits, and wait for a new signal ?
