Fresh sell signal fires after a long up 32.65%
Credo Technology stock slips 2.9% as a fresh sell signal fires
Fresh sell signal fires after a long up 32.65%
Our view last week
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.
This week's summary
A fresh sell signal just fired on Credo Technology this week: the weekly picture, bullish until now, shifts gear, with the MACD in a bearish cross and the ADX losing conviction. Credo Technology stock sees sellers dominate daily volume, with price under the Ichimoku cloud in a distribution phase. Just seven days ago the trade was still a long up 32.65%; now the model flips its read, on a stock still 138.5% above its 200-week average.
IQS Phase
69
in tension
Signal Strength
18
decline starting to make lower lows
Sizing
MINIMUM
Ranking
#56 / 138
New us stocks
Trade P&L %
+0.00%
from signal to date, no stop loss
Rank position
ranks 56th among the 138 sell signals for US stocks in our ranking, with a signal strength of 18 out of 100.
Sector context
SectorGrowth Tech
Benchmark ETFXLK
Sector regimeweak phase
Performanceweekly -0.30% · monthly -5.53%
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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