Celsius Holdings Inc. is a manufacturer of nutritional foods, beverages, and supplements. The company has its headquarters in the United States of America at Boca Raton. The current CEO of the Company is John Fieldly and it was founded in 2004.
The CELH share price has declined with good momentum in the last few days due to an uncertain reason. It resulted in sudden profit booking in the stock. The current market cap of the company is $13.949 Billion and has a negative EPS of $1.85. It means that the company is losing money on each share. The current beta of the share is 1.31. It means that the share price moves slightly more than the market as a whole.
Celsius Holdings has an average trading volume of 2.362 Million and the gross margin of the company is 45.16%. The net cash for the company has advanced by 1,034.5% resulting in $681.05 Million in Q2 2023. It indicates that the company receives a good amount of payments from its clients.
The CELH Stock Performance Analysis
The CELH share has made a revenue of $325.88 Million in Q2 2023, resulting in an advance of +111.6% year-on-year. The gross profit for the company has also advanced by 168.4%, following an advance of 48.7% in gross margin. The Q2 2023 results for the Celsius Holdings company are very good and supportive of the good performance of the company.
The CELH Share Technical Analysis
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CELH stock price is following a bullish market structure, advancing from lower levels and making new higher highs trading inside a rising wedge channel. Currently, the price is declining from higher levels and making a bearish candlestick pattern. If the price breaks below the level of $167.00, it may lead to a downtrend in the market.
The CELH share is trading in an uptrend advancing from lower levels. The price is also trading above the 50-day and the 200-day EMAs. It indicates an uptrend in the market unless the price breaks below the 50-day EMA.
The RSI is trading in an uptrend, sustaining above the overbought zones for a long time. However, the value of the RSI has recently declined below the 50 level.
Technical Overview of CELH Stock
The technical indicators, mainly the oscillators are bearish for the stock and the analysts are recommending a buy based on the financial performance of the stock. This represents uncertainty in the market trend of the CELH share.
Conclusion
The Celsius Holdings share price is trading in an uptrend, following a rising wedge pattern, and is currently forming a bearish candlestick pattern. It is leading toward the support level of $167.00. The RSI is uncertain and the EMA is acting bullish for the stock.
Therefore, the price of the share may continue to advance to higher levels on the formation of a bullish candlestick pattern. If the price breaks below $167.00, it can decline to much lower levels as it will result in a change of trend.
Technical Levels
- Support levels for the CELH share are – $135.00 and $167.00
- Resistance levels for the CELH share are – $ 207.00 and $220.00
Disclaimer
The information provided in this article, including the views and opinions expressed by the author or any individuals mentioned, is intended for informational purposes only. It is important to note that the article does not provide financial or investment advice. Investing or trading in cryptocurrency assets carries inherent risks and can result in financial loss.
Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.
Source: https://www.thecoinrepublic.com/2023/09/21/why-is-there-a-massive-decline-in-celh-stock-what-to-do-next/