Potential Catalysts / Reasons for the Hype:
The company announced that it is collaborating with NVIDIA to add Cepton lidar models into NVIDIA DRIVE Sim.
Equities research analysts at JPMorgan Chase & Co. initiated coverage on shares of Cepton. The brokerage set a “neutral” rating on the stock.
On analyzing the company’s stock charts, there seem to be multiple bullish indications…
Bullish Indications
#1 Consolidation Area: The daily chart shows that the stock has been trading within a consolidation area for the past several months. This is marked as a pink color rectangle. The stock currently looks poised for a breakout from this consolidation area. This is a possible bullish indication.
#2 Bullish ADX and DI: The ADX indicator shows bullishness as the +DI line is above the -DI line, and the ADX line is currently starting to move higher from below the +DI and -DI lines.
#3 Price above MA: The stock is currently above its 50-day SMA, indicating that the bulls have currently gained control.
#4 Bullish Stoch: The %K line of the stochastic is above the %D line, and has also moved higher from oversold levels, indicating possible bullishness.
#5 MACD above Signal Line: In the daily chart, the MACD (light blue color) is currently above the MACD signal line (orange color). This indicates a possible bullish setup.
#6 Above Support Area: The weekly chart shows that the stock is currently trading above a support area, which is marked as a purple color dotted line. This is a possible bullish indication.
