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CRDO Stock Credo Technology Group Holding (CRDO, $26.65) RSI Indicator left the oversold zone on September 11, 2024

A.I.dvisor
at Tickeron.com
09/12/24
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CRDO - Credo Technology Group Holding Ltd
RSI signal
Bullish Trend
Odds of UP Trend
RSI signal
Price: $26.65
Daily change: +$1.75 (+7.03%)
Daily volume: 3.7M
Capitalization: $4.4B
Industry: Semiconductors
This is a signal that CRDO's price could be shifting from a downtrend to an uptrend. Traders may consider buying the stock or exploring call options. A.I.dvisor looked back and found 20 similar cases where CRDO's RSI Indicator left the oversold zone, and in of them led to a successful outcome. Odds of Success:

Momentum Indicator for CRDO turns positive, indicating new upward trend

CRDO saw its Momentum Indicator move above the 0 level on September 19, 2024. This is an indication that the stock could be shifting in to a new upward move. Traders may want to consider buying the stock or buying call options. Tickeron's A.I.dvisor looked at 36 similar instances where the indicator turned positive. In of the 36 cases, the stock moved higher in the following days. The odds of a move higher are at .

Price Prediction Chart

Technical Analysis (Indicators)

Bullish Trend Analysis

The Moving Average Convergence Divergence (MACD) for CRDO just turned positive on September 23, 2024. Looking at past instances where CRDO's MACD turned positive, the stock continued to rise in of 22 cases over the following month. The odds of a continued upward trend are .

CRDO moved above its 50-day moving average on September 23, 2024 date and that indicates a change from a downward trend to an upward trend.

The 10-day moving average for CRDO crossed bullishly above the 50-day moving average on September 30, 2024. This indicates that the trend has shifted higher and could be considered a buy signal. In of 12 past instances when the 10-day crossed above the 50-day, the stock continued to move higher over the following month. The odds of a continued upward trend are .

Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where CRDO advanced for three days, in of 178 cases, the price rose further within the following month. The odds of a continued upward trend are .

Bearish Trend Analysis

The RSI Indicator has been in the overbought zone for 1 day. Expect a price pull-back in the near future.

The Stochastic Oscillator demonstrated that the ticker has stayed in the overbought zone for 3 days. The longer the ticker stays in the overbought zone, the sooner a price pull-back is expected.

Following a 3-day decline, the stock is projected to fall further. Considering past instances where CRDO declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .

CRDO broke above its upper Bollinger Band on October 08, 2024. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.

Fundamental Analysis (Ratings)

Fear & Greed

Tickeron has a positive outlook on this ticker and predicts a further increase by more than 4.00% within the next month with a likelihood of 87%.

The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating steady price growth. CRDO’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.

The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is slightly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (9.242) is normal, around the industry mean (7.407). P/E Ratio (0.000) is within average values for comparable stocks, (58.452). Projected Growth (PEG Ratio) (0.000) is also within normal values, averaging (2.825). CRDO has a moderately low Dividend Yield (0.000) as compared to the industry average of (0.020). P/S Ratio (22.523) is also within normal values, averaging (42.773).

The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating weak sales and an unprofitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.

The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to worse than average earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.

The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating that the returns do not compensate for the risks. CRDO’s unstable profits reported over time resulted in significant Drawdowns within these last five years. A stable profit reduces stock drawdown and volatility. The average Profit vs. Risk Rating rating for the industry is 66, placing this stock worse than average.

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CRDO
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General Information

Industry Semiconductors

Profile
Fundamentals
Details
Industry
N/A
Address
Ugland House
Phone
+1345 4086649329
Employees
438
Web
https://www.credosemi.com