$CRSR Breakout Trade prior to ER

2021년 2월 5일

Potential breakout trade for CRSR tomorrow.

Technicals:
Closed at a +2 month high and above the .618 fib level Thursday.
CRSR has been on a gradual up trend for over 2 months, quietly setting higher lows while using 34-50 MA as support.

Fundementals:
Corsair is a leading global provider and innovator of high-performance gear for gamers and content creators. ER is expected next Tuesday 2/9/21. CRSR beat earnings in Q3 and raised guidance for Q4.
NASDAQ is strong, up around 5% this week. Big NASDAQ players, PYPL & EBAY both beat earnings & APPL was up thanks to the Hyundai catalyst.

Opinion:
CRSR will be a $100 stock by summer and $200 stock by the end of 2021 and this maybe the beginning of that run. PC gaming is booming and CRSR has the fundamentals to support a long run into the summer. I would be surprised if the company did not receive analyst upgrades and a significant influx of institutional ownership if they match or beat earnings next Tuesday. BR, BS, JPM, GS and others own shares but have not increased their positions since the IPO in September of 2020.