Corsair Gaming Inc - NASDAQ: CRSR : TA @ 4th Feb 2021
This post is my technical analysis on CRSR as at 4th Feb 2021.
Those of us vested in CRSR are likely gamers as we see the value in this industry. Reference to my previous posts, I always think that it gives investors an edge if we invest in an industry which we are familiar with. For those who are familiar with CRSR, in my PC above, I use CRSR ram.
Quick reminder to all the TA is not an indication of what might happen in the future. It is simply a decision making tool that REDUCES the risk involved in investment. So if you apply TA and you see the stock go down, then suck thumb thats life. With that lets take a look at the Day chart of CRSR.
Have afew overlapping lines in this diagram so do take reference from the commentary.
Overall, I think we are poised for a new bull run for this stock due to the following indicators.
1. We see clear levels of support forming at the 33, 34 and 35 levels. (LOL I still have a queue order at 35 but was never triggered.) [Indicated in neon turquoise]
2. False breakout [Indicated in purple] happened on the 27th of Jan. Bloody disaster for most traders as breakout traders would buy when it broke resistance at $43. In this case, I think it is a bullish signal as the stock wants to move up investors want to take profit. This signal also confirmed my analysis that there are indeed buyers for this stock .... lingering .... in the deep dark corners of the internet.
3. Ascending triangle in motion. [Indicated in yellow] I drew this a little out of scale but we can see a triangle forming which also adds on to my analysis that the false breakout is indeed a bullish signal. With the overall volume adding to the bullish run yesterday I'm convinced that we are now on track for a new bull run.
Looking at the various other factors that support this TA. Most of them are solely my opinion supported with the views of others on the internet.
Lets face it, we're in covid and everyone is playing games. To do that, they gonna needs parts and thats where CRSR comes in. Take a look at this post from this dude. Could be real or could be fake as this is unverified from stockwits but still makes a compelling case right?
In any case, I am happy to list down my positions. Reference to my previous posts on the various brokerage account that I have.
Short Term, Tiger - CRSR @ $39.52
Medium Term, Poems - CRSR @ $38.72
Long Term, IBKR - CRSR @ $38.25
Current Price $43.43 @ 4th Feb 2021.
By End Feb 2021 - $50
By End Dec 2021 - $80
By End 2021 - $120
Once again, to emphasize, I have no financial background at all. I just read and do my own analysis in a pineapple under the sea.