Title: $CELH Breaks All-Time Highs Trendline Resistance, Eyes $60 Level Next
Introduction:
In a remarkable move today, Clean Energy Fuels Corp (NASDAQ: $CELH) surged past its all-time highs trendline resistance, closing above the 100-SMA for the first time in nearly two months. With this significant breakthrough, investors are now closely watching for a potential breakout above the $60 level, which could pave the way for a test of $63 and new 52-week highs in the coming days. This article delves into the recent price action and analyzes the key support levels for $CELH.
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Breaking the Trendline Resistance:
$CELH stock made an impressive upward move today, defying previous resistance levels. The stock’s price chart showed a clear breakout above the all-time highs trendline resistance, indicating a potential shift in momentum. This breakout came after nearly two months of consolidation, during which the stock struggled to gain upward traction.
Closing Above 100-SMA:
One crucial technical indicator that caught investors’ attention was Clean Energy Fuels’ closing price above the 100-SMA (Simple Moving Average). The 100-SMA is widely regarded as a significant level of support or resistance depending on the stock’s direction. $CELH managed to close strong above this moving average, suggesting further bullish sentiment in the market.
Eyeing $60 Breakout:
With the stock now trading above the all-time highs trendline resistance and the 100-SMA, market participants are eagerly anticipating a potential breakout above the $60 level. This level has historically acted as a psychological barrier and could trigger a fresh wave of buying pressure. If $CELH manages to sustain its upward momentum and surpass $60, it could establish a new support level and potentially pave the way for further gains.
Testing $63 and New 52-Week Highs:
Should $CELH succeed in breaking above $60, the next resistance level to watch out for is $63. If the stock manages to surpass this level, it could signal a further surge towards new 52-week highs. The possibility of reaching this milestone is bolstered by the recent breakout and the positive sentiment surrounding Clean Energy Fuels Corp.
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Support Levels:
While the focus remains on the upside potential, it is essential to keep an eye on key support levels. In the event of a pullback, the first level of support for $CELH can be found at the previous resistance-turned-support level near $55. If the stock experiences further downside pressure, the 100-SMA, which now acts as support, may provide a cushion around $50.
Conclusion:
Clean Energy Fuels Corp ($CELH) made a remarkable move today, breaking out of the all-time highs trendline resistance and closing above the 100-SMA. The stock’s strong performance has ignited optimism among investors, who now anticipate a potential breakout above the $60 level. Should $CELH surpass this level, it could pave the way for a test of $63 and new 52-week highs. As the stock continues its upward trajectory, investors should also keep an eye on key support levels, which may provide buying opportunities in the event of a pullback..
$CELH – MADE A MASSIVE MOVE TO THE UPSIDE TODAY BREAKING OUT OF THAT ALL TIME HIGHS TRENDLINE RESISTANCE TODAY & CLOSING STRONG ABOVE 100-SMA AFTER ALMOST 2 MONTHS.
$60 BREAK ON WATCH NEXT, ABOVE THAT WE CAN SEE IT TEST $63 THEN TO NEW 52-WEEK HIGHS IN COMING DAYS. SUPPORT ON… https://t.co/0iU2835mnp pic.twitter.com/2U9qliNZ4K— The Stock Trader Hub (@StockTraderHub) January 3, 2024
Source
@StockTraderHub said $CELH – MADE A MASSIVE MOVE TO THE UPSIDE TODAY BREAKING OUT OF THAT ALL TIME HIGHS TRENDLINE RESISTANCE TODAY & CLOSING STRONG ABOVE 100-SMA AFTER ALMOST 2 MONTHS. $60 BREAK ON WATCH NEXT, ABOVE THAT WE CAN SEE IT TEST $63 THEN TO NEW 52-WEEK HIGHS IN COMING DAYS. SUPPORT ON… twitter.com/i/web/status/1…
