Cerebras Systems is sitting near 88.7 and the sellers are firmly in control heading into the post-IPO lock-up expiration. Weakness on the charts combined with margin concerns leaves the structure looking fragile.
The downside levels mapped out by traders at CrowdWisdomTrading:
• First downside marker: 81.71
• Secondary objective: 78.0
• Initial resistance: 91.0
• Invalidation: 93.0
A push above 91.0 shows buyers pushing back, and above the second stop at 93.0 the short thesis is completely invalid. Until then, heavy supply keeps the downward path active.
$CBRS #Stocks #Trading
Educational research, not personal advice. You place the trade. Not a trading instruction. DYOR.
The downside levels mapped out by traders at CrowdWisdomTrading:
• First downside marker: 81.71
• Secondary objective: 78.0
• Initial resistance: 91.0
• Invalidation: 93.0
A push above 91.0 shows buyers pushing back, and above the second stop at 93.0 the short thesis is completely invalid. Until then, heavy supply keeps the downward path active.
$CBRS #Stocks #Trading
Educational research, not personal advice. You place the trade. Not a trading instruction. DYOR.