Charts indicate this beaten-down beverage stock is rebounding, headed $10 higher, says Carter Worth

According to Worth Charting, recent price action indicates that Celsius Holdings (CELH) has completed a bearish-to-bullish reversal, signaling the early stages of a new uptrend. The analysis identifies the current setup as both a basing pattern and a rounding bottom, with a price objective of $46.

Analysis

Worth Charting's technical assessment of Celsius Holdings (CELH), a previously beaten-down beverage company, indicates a significant bullish development based on recent price action. The firm characterizes CELH's current market posture as a 'bearish-to-bullish' reversal BUY, supported by chart patterns identified as both 'basing' and a 'rounding bottom.' This interpretation suggests that CELH, after an established downtrend, is now in the early stages of a new uptrend, with Worth Charting establishing a price objective of $46 +/-. This bullish outlook is further corroborated by a strongly positive sentiment score of 0.85 for CELH. It is important to recognize that these opinions are solely those of the CNBC Pro contributor and have been disseminated for informational purposes.

Key Decisions for Investors

• The technical analysis from Worth Charting suggests a potential buying opportunity in Celsius Holdings (CELH), based on a 'bearish-to-bullish' reversal pattern and an early uptrend signal.
• Investors could evaluate the $46 +/- price objective as a potential upside target, while noting this is a specific technical forecast from one contributor.
• Given the article's explicit disclaimer regarding its informational nature, this technical view should be integrated with comprehensive fundamental analysis and individual risk assessment, ideally in consultation with a financial advisor, before making any investment decisions.