CleanSpark: Bullish Buzz Or Resistance Ahead Before Q4 Reveal?

Wall Street expects Bitcoin miner CleanSpark Inc CLSK to report a loss of 18 cents per share and $88.65 million in revenues when it posts fourth-quarter earnings after market hours on Monday.

The company’s stock is up 61.78% over the past year, and 46.43% over the past month.

Let’s look at what the charts indicate for CleanSpark stock and how the stock currently maps against Wall Street estimates.

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CleanSpark Stock Bullish Ahead Of Q4 Earnings 

Cleanspark stock is riding a strong bullish wave, with its share price of $14.73 positioned above key short and medium-term moving averages, including the five, 20, and 50-day EMAs.

Chart created using Benzinga Pro

This alignment underscores a strong uptrend. The eight-day SMA (simple moving average) at $14.12 and 20-day SMA at $13.80 both flash bullish signals, reinforcing the momentum.

Similarly, the 50-day SMA at $11.79 paints a technical picture of sustained upward strength. However, caution lingers with the 200-day SMA at $14.72 signaling potential selling pressure, hinting at resistance levels.

Adding to the mixed signals, CLSK's MACD (moving average convergence/divergence) indicator at 0.68 points to bullish momentum, while its RSI (relative strength index) of 56.04 suggests the stock isn't yet overbought, leaving room for further gains.

CleanSpark operates low-carbon-powered data centers to support Bitcoin BTC/USD. Its investors should balance optimism with vigilance, keeping an eye on the potential for profit-taking.

CleanSpark Analysts See 59% Upside

Ratings & Consensus Estimates: The consensus analyst rating on CleanSpark stock stands at a Buy currently with a price target of $19.23. Recent analyst ratings from Cantor Fitzgerald, Macquarie and HC Wainwright imply a 58.95% upside for Cleanspark, with an average price target of $23.33.

Price Action: CleanSpark stock closed the trading day Friday at $14.35, up 3.54%.

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