Corsair Gaming Needs To Regain This Level Once Again Or Things Could Get Ugly

Corsair Gaming Inc. CRSR shares are trading higher Tuesday, moving alongside other popular WallStreetBets stocks like AMC Entertainment Holdings Inc. AMC and Gamestop Corp. GME.

Corsair Gamingwas up 3.53% at $29.31 at last check.

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Corsair Gaming Daily Chart Analysis

• Shares are attempting to break back above support after the price broke below support and the sideways channel it was trading in.
• The $35.50 has held as resistance in the past and could again as the stock nears the level. The $30 level has previously been able to hold as a support level before breaking below it, and this level may begin to hold as resistance.
• The stock is trading below both the 50-day moving average (green), and the 200-day moving average (blue), indicating the sentiment in the stock has been bearish.
• Each of these moving averages may hold as a possible area of resistance in the future.
• The Relative Strength Index (RSI) has been moving higher the past couple of weeks and now sits at the 60 level. This shows the stock has been seeing more buying pressure recently.

What’s Next For Corsair Gaming?

Bullish traders would like to see the stock cross back above the $30 level and then begin to climb back toward resistance near $35.50. Eventually, bulls would like to see the stock break above resistance and climb further.

Bears would like to see the stock be unable to cross back above the $30 level and begin to fall back lower. If the stock is unable to break above the $30 level, it may begin to hold as a resistance level in the future.