Consolidation before retest of resistance
Crayon is a cloud company with a significant position in the Nordic market and access to markets across the world.
There is substantial room for growth, both in their dominant Nordic area and other geographies.
They have just collected 30 MUSD targeted for M&A
I expect them to consolidate around the support zone for 7-14 days and start climbing towards a re-test of the resistance. Any news of completed and/or ongoing M&A is sure to boost the price significantly.
Medium term target 70
Long term target 85-90
There is substantial room for growth, both in their dominant Nordic area and other geographies.
They have just collected 30 MUSD targeted for M&A
I expect them to consolidate around the support zone for 7-14 days and start climbing towards a re-test of the resistance. Any news of completed and/or ongoing M&A is sure to boost the price significantly.
Medium term target 70
Long term target 85-90
Note
Oversold due to a reasonable extra issue of stock and insider sales (limited share of total position).All targets still apply, this is a buy opportunity - not sell.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.