Take a sip of this $CELH Chart – January 10, 2023
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This is Scott with your Chart of the Day. I want to bring your eyes and your attention back to this Celsius ( NASDAQ: CELH ) chart. I will be honest, I am in Canada and I have never had Celsius ( NASDAQ: CELH ) Energy Drink.
In fact, I don’t even know if you can buy it here. I was looking on Amazon ( NASDAQ: AMZN ), if I want to buy Celsius ( NASDAQ: CELH ) Energy Drink on Amazon ( NASDAQ: AMZN ) and import it into Canada, you’re not going to believe this, it is going to cost about $200.00 (I’ll bring in the Amazon link right here). This is real, by the way, for a 12-pack of Celsius ( NASDAQ: CELH ), $200.00. I could also buy a single can for $48.00. I don’t think I like any beverage that much unless it’s a Single Malt from Scotland, but I digress.
I want to bring your attention to this chart as it has consolidated nicely to this 100-period exponential moving average, which is the black line here on the chart. You can see how we have a nice orderly pullback. A clear channel of tops and a clear channel of bottoms. What I want to see from Celsius ( NASDAQ: CELH ) is a break out of this consolidation and above that 50-day moving average, which is the red line on the chart.
Now, in the past Celsius ( NASDAQ: CELH ) coming down to these moving averages has acted as a buy zone, where you have been rewarded for buying around this area. And then you have been rewarded for selling the extension above that area. And so we are kind of, in my opinion, in a little bit of a buy zone here. With clear support right under today’s intraday low.
So what I want to see is a breakthrough in that 50-day moving average coming on heavier than average volume. So I will set an alert on my chart right around that $102.00 level. We want to see a strong move through that level coming on volume. And so I am going to set that alert on my chart. Maybe, you could do the same, and then we will watch how this trade plays out together. If you have a chance, let me know how Celsius ( NASDAQ: CELH ) is in the comments below if you have actually tried the drink. I mean, it’s a $100.00 share, it’s got to be good.
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