Celsius Holdings Inc. (NASDAQ:CELH) shares are rising Monday, extending a rebound that has lifted the stock from its October low and pushed it up against resistance near $30. Here’s what you should know.
- Celsius Holdings stock is among today’s top performers. Why is CELH stock up today?
Celsius Stock Rebounds 13% In Four Days
Celsius shares have rallied about 13% in just four days. The stock climbed from $26.67 on October 15 to $30.17 on October 19, a gain of $3.50, or 13.1%. Counting from the lowest low, $26.40, the latest price of $29.98 is up about 13.6%.
The three bottoms sit almost on top of each other. Between September 10 and October 15, the stock bottomed at roughly $26.40, $26.50 and $26.67, a spread of only approximately 27 cents. The stock has tested that area three times. The October 15 bottom at $26.67 landed above the earlier two, so no test has produced a lower low.
Celsius Tests $30 Resistance Zone
The highs bunch together as well. Celsius peaked at around $30.30 on September 22 and at $30.17 on October 19, just 13 cents apart, and the second peak came in slightly lower. At $29.98, the stock trades at roughly 19 cents, or about 0.6%, below the October 19 high and 32 cents, or about 1.1%, below the September 22 high.
Between the floor and the ceiling, the stock has traded in a band roughly $3.90 tall, running from $26.40 up to $30.30. Resistance between $30.17 and $30.30 matters most now. The stock sits just under it and would be making a third attempt.
Finishing a session above $30.30 would mark a peak above both earlier ones. That would break the range and end a pattern in which the stock has stalled twice at the zone. It could signal that the rebound has more room to run, though the data identifies no confirmed level above $30.30 to serve as a next target. A rejection there would keep the shares inside their roughly $3.90 band.
CELH Shares Are Popping
CELH Price Action: Celsius shares were up 5.71% at $29.80 at the time of publication on Monday, according to Benzinga Pro.
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