To The Moon

Hi everyone. Today I’ll be discussing about a fitness and energy beverages company:

Celsius Holdings, Inc. (NASDAQ: CELH)

CELH was previously listed on the OTC markets before IPO’ing in 2017 on the NASDAQ. The green support trendline turned into resistance in 2010 before being flipped back into support in 2020. It also has a long-term trendline in place since 2013.

On the whole, the stock has been making higher highs and higher lows since 2013, which are signs of a healthy uptrend.

If we focus on more recent price action, we can the largest ever volume on record coming in 2 weeks ago at the support trendline. Institutions are actively accumulating this even though it has been in a bear market for over a year. A bullish stochastic crossover took place the same week. This is a strong signal that CELH is in a long-term bottoming process.

If we look at the daily we can see a resistance trendline in play since May this year. CELH simply gapped over the trendline on extremely high volume before spending the next few days consolidating over the trendline and the gap support at 32.25. A bullish divergence has been forming since August that played out with that gap up, while the Stochastic has been cooling from extreme overbought levels. You can also see an inverse head and shoulder pattern with the shoulders around 32.25 and the head at 28.20.

CELH broke out of its falling wedge consolidation during yesterday’s session, and spent the next few hours consolidating.

In all likelihood, the next few sessions should see the start of the next leg higher towards 44. In the longer term, CELH should continue forming higher highs and lows towards the 2 bearish gap downs at 57.48-57.79 and 71-72.36, with ATHs possibly being retested / new ATHs being formed over the next few years.

In light of the favourable technical setup on CELH, I am BULLISH. Note that the bullish thesis on CELH is only invalidated if it breaks and closes below 24.47, which was the ATH in 2007. This could lead to a 50% drawdown from that level towards 12-13 strong support from 2022.

Sentiment: BULLISH

Invalidation: Close below 24.47

Summary (with Price Targets - NFA):

• Retested 2020 support trendline and broke out of May’24 resistance trendline, with a short-term move towards 44.04 and a longer-term move towards the bearish gap downs at 57.48-57.79 and 71-72.36

• A break and close below 24.47 could lead to a 50% drawdown towards 12-13 strong support

$Celsius Holdings, Inc.(CELH)$ $Monster Beverage(MNST)$ $Pepsi(PEP)$ $Coca-Cola(KO)$ $SPDR S&P 500 ETF Trust(SPY)$ $Apple(AAPL)$

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