Credo Technology: confirmation week closes bearish
Credo Technology stock rises 0.9% and bounces off the daily EMA50
Our view last week
Credo Technology stock drops 11.3% in the confirmation week of its new buy signal, with the weekly MACD turning bearish and 6 warning flags out of 11 in the price-action reading. The stock still trades above its 50-week moving average and close to recent highs: our weekly technical analysis flags this as a case to watch closely, with signal strength still high but the confirmation picture weaker.
This week's summary
Credo Technology shares bounce off the daily EMA50, in the 231 area, rebounding 6% from lows in the 220 area. On the weekly chart the picture stays neutral — 3 warning flags out of 11 in the price-action reading, with contracting volumes and a pronounced distribution phase. The buy signal, which fired two weeks ago, closes the confirmation week bearish: our weekly technical analysis calls for caution, with earnings due right in these days.
IQS Phase
42
ordinary
Signal Strength
70
high · wide & volatile
Sizing
FULL
Ranking
#92 / 175
US stocks in progress
Trade P&L %
-10.45%
from signal to date, no stop loss
Rank position
ranks 92nd among the 175 Longs already running for US stocks in our ranking, with a signal strength of 70 out of 100.
Sector context
SectorGrowth Tech
Benchmark ETFXLK
Sector regimeweak phase
Performanceweekly +1.30% · monthly +11.48%
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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