$CELH - Price is finding support at the current volume shelf
$Celsius Holdings, Inc.(CELH)$ - Price is finding support at the current volume shelf which is in confluence with the annual Support $31.2, and RSI bounced after reaching 29 the week before, a very oversold level in this timeframe.
There is a gap from $30.5 that may act as a magnet.
A daily close above $35.5 (the 50 Daily Moving average) indicates a safer entry zone in case that price is to retest the annual support mentioned.
Bullish above $35.5, bearish below $31.2, expecting a lot of chop in the middle. Always managing risk and mindful about the downtrend in the weekly averages.
A MACD crossover is brewing, that bullish signal would be in the chart if price continues above the key support mentioned.
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$47ish which is the lower edge of the higher volume shelf, and it has confluence with the 20 weekly average.
Fundamental analysis is needed to consider higher levels, as of now there are not references for that.
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