Double Inside CELH Breakout
Celsius Holdings, the market-leading energy drink company, looks poised to emerge from a double inside day setup. The stock traded inside Tuesday's range on Wednesday and Friday and remains inside this tight area. A breakout above 55.25 would be the trigger to buy with a low-risk stop loss at 52.10 (5.6% risk). This breakout would coincide with a move through CELH's 50-day moving average (red line on chart)/
The dashed line on the chart shows additional support near the $51 level if traders wish to give the trade a little more room. This was resistance for most of the Summer and then aced as support during the pullback in October.
The dashed line on the chart shows additional support near the $51 level if traders wish to give the trade a little more room. This was resistance for most of the Summer and then aced as support during the pullback in October.
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