Oct 22 in Daily Stock Post
Ceragon Networks Ltd. (NASDAQ: CRNT)
This is not investment advice; it’s a trade idea for educational purposes. All trades are inherently risky and may result in a loss. Please do your own research.
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Ceragon Networks Ltd. is a networking equipment vendor, focused on wireless point-to-point connectivity, mostly used for wireless backhaul by mobile operators and wireless service providers as well as private businesses.
- 50-Day Moving Average (50 MA): $2.35
- 200-Day Moving Average (200 MA): $2.25
- Support Level: $2.10
- Resistance Level: $2.65
- Beta: 1.4
- Risk-Free Rate: 4%
- Market Return: 10%
- CAPM Expected Return: 12.4%
Here are some key points of interest for Ceragon Networks Ltd. (CRNT) that may catch your attention:
Strong Support and Resistance Levels
- CRNT has established a support level at $2.10, indicating a historical floor where buying interest has consistently emerged. This may offer investors confidence in the stock's downside protection.
- With a resistance level at $2.65, it indicates potential selling pressure at higher levels, providing a target for those looking to capitalize on short-term price gains.
Positive Technical Momentum
- CRNT's 50-day moving average ($2.35) is currently above the 200-day moving average ($2.25). This crossover often signals bullish momentum, indicating positive short-term sentiment among traders.
Higher Beta, Higher Risk-Reward Potential
- CRNT has a beta of 1.4, suggesting that it is more volatile than the market. While this increases risk, it also provides potential for larger price swings, which may appeal to investors looking for higher short-term returns.
International Market Exposure
- Ceragon Networks has a substantial portion of its revenue coming from emerging markets such as India, as well as other regions like North America, Europe, and the Middle East. This international footprint can offer diversification but also carries geopolitical and currency risks.
Position in the 5G and Wireless Backhaul Market
- The company specializes in wireless backhaul solutions, critical for expanding 5G networks globally. With the continuous rollout of 5G, CRNT could be positioned to benefit from growing infrastructure investments.
Coming into the opening bell CRNT is up .76% premarket, but it is also running into the resistance point of $2.65. Playing the support/resistance game, I am considering making an entry at a lower price should it fall (perhaps around $2.55) or at a higher price (around $2.75) if it moves up through resistance. We'll see!
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Ceragon Networks Ltd. (NASDAQ: CRNT)
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THIS IS NOT INVESTMENT ADVICE. This group will have a daily stock tip posted. This is for purely entertainment and educational purposes only
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