Here’s how to buy $CORZ – November 19, 2024
This is Scott McGregor at Scott Trades on Twitter with StockMarketMentor.com and your Chart of the Day. I want to take a look at Core Scientific ( NASDAQ: CORZ ).
Core ( NASDAQ: CORZ ) is in the blockchain and AI space. And that space has been on fire. We have Bitcoin just in and around that 93, 94,000 range. A lot of Bitcoin miners, however, have been lagging.
If you look at Bitcoin miners like Marathon ( NASDAQ: MARA ), it’s down under the 8-day exponential and it’s been floundering for the past couple of weeks. It might pick up steam but it’s been a choppy trade. Riot ( NASDAQ: RIOT ) blockchain has been chopping and slopping. It’s finally just back above the 200-day moving average.
Core Scientific ( NASDAQ: CORZ ) has been an outlier because Core Scientific ( NASDAQ: CORZ ) has been in a pretty strong uptrend for most of the year. At the beginning of the year when it launched, it was choppy and sloppy but it moved out of a choppy sloppy base and really started to get going.
It really started to make highs, and when it did consolidate, while there were a few sketchy days under the 50-day moving average, the buyers brought it back up above the 50-day moving average. And it has since reached some new highs just in the past couple of sessions.
I would definitely keep on Core Scientific ( NASDAQ: CORZ ). We want to see this stock hold above that 21-day exponential period moving average and ideally take out some of these highs like that high in and around 17.36.
So I would consider getting a little stock started in and around this consolidation range. If it does break out above that level, then that’s your signal to potentially add more to the trade because the trade is finally rewarding you. So watch that 17.36-17.40 level for a break higher here on Core Scientific ( NASDAQ: CORZ ). And make sure it holds above that 21-day exponential period moving average.
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