What Could Be Next As Corsair Gaming Gets Pushed By Redditors

Corsair Gaming Inc. CRSR shares are trading slightly higher Wednesday after retail traders grabbed ahold of the stock: the company is a big name within the WallStreetBets community on Reddit.

The stock was trending throughout the day on StockTwits. The company also released their 7000 series cases for desktops Tuesday.

Corsair Gaming was down 0.18% at $33.20 at last check Wednesday.

Corsair Gaming Daily Chart Analysis

• Shares have been trading within a narrow channel throughout the past few months.
• The stock is trading above the 50-day moving average (green), indicating sentiment in the stock is likely bullish. This moving average may hold as a potential area of support.
• The Relative Strength Index (RSI) sits at 53, meaning there are slightly more buyers in the stock than there are sellers.
   

Key Corsair Gaming Levels To Watch

• The $30 level holds as an area of support in the channel while the $35 level has been holding as resistance.
• Above the $35 level the stock may not find a strong resistance level until the stock hits the $48 level as this is where the stock has an all-time high.
• The RSI has been hanging out in the middle of the range for the most part. The RSI has been fluctuating around the 50 mark throughout the past couple of weeks.
   

What’s Next For Corsair Gaming?

Bulls want to see the stock start to form higher lows and push past the $35 resistance. They would then like to see the stock head toward the $48 resistance. Eventually, a break of the $48 resistance with consolidation may let the stock continue to move higher.

Bearish traders would like to see the stock break below the $30 level. If the stock is able to break below the $30 level and consolidate below the level it may see a downward push. Bears also want to see the stock fall below the moving average for a potential trend change.

(Photo: 7000 series cases via Corsair)