Credo Technology shares: -21% and a double bottom at 201
Credo Technology drops 21.4%: the 201-area double bottom holds the trade
Credo Technology shares: -21% and a double bottom at 201
Our view last week
Credo Technology gains 6.6% this week, its sharpest recovery since it shed 12.4% two weeks ago, but money flow stays out of step and price action flags a distribution phase underway. Up from last week's 50.5%, the trade now sits above 60% since entry, in its 12th week of management, with price pressing against resistance in the 260 area.
This week's summary
Credo Technology shares drop 21.4% this week, reversing last week's 6.6% rebound: the trade's profit slides from near 60% down to 26%. The slide stalled at a clean double bottom in the 201 area, with a 54% intermediate bounce and sellers already fading. Price stays boxed into a very tight band, between support in the 199 area and resistance in the 206 area.
IQS Phase
54
ordinary
Signal Strength
87
high · wide & volatile
Sizing
FULL
Ranking
#21 / 112
US stocks in progress
Trade P&L %
+26.13%
from signal to today
restricted Platinum content