Credo Technology's bounce doesn't convince the volume
Credo Technology rallies 5.2% but the bounce lacks volume confirmation
Credo Technology's bounce doesn't convince the volume
Our view last week
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.
This week's summary
Credo Technology shares climb 5.2% this week, but the bounce comes with 89% of volume still on the sell side: buyer dominance is collapsing just as price tries to recover from the double bottom in the 206 area, after last week's 21.4% plunge. Price stays boxed between support in the 210 area and resistance in the 218 area, with the weekly structure still bullish. The trade now sits 32.65% in the money since entry.
IQS Phase
46
ordinary
Signal Strength
87
high · wide & volatile
Sizing
FULL
Ranking
#18 / 124
US stocks in progress
Trade P&L %
+32.65%
from signal to today
Rank position
ranks 18th among the 124 Longs already running for US stocks in our ranking, with a signal strength of 87 out of 100.
Sector context
SectorGrowth Tech
Benchmark ETFXLK
Sector regimeweak phase
Performanceweekly +0.17% · monthly -3.92%
CRDO belongs to the growth tech sector (reference ETF XLK). The sector is classified weak phase according to our weekly reading.
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