CRDO: Multi-TF Bearish Divergence Signals a Major CorrectionCRDO has hit the target shared previously (see attached post).
Now it appears to be entering a significant corrective phase after an extended bullish run.
The stock has developed bearish divergence on both the Daily and Weekly timeframes, indicating that bullish momentum has been fading despite price making new highs. It recently reached the upper boundary of a rising wedge near 308, where sellers stepped in aggressively.
Adding to the bearish case, price formed an Evening Star reversal pattern, followed by a gap-down session that confirmed the shift in momentum. The subsequent breakdown below the wedge occurred on nearly four times the average daily trading volume, suggesting strong institutional selling rather than routine profit-taking.
In the short term, CRDO could attempt a throwback to retest the breakdown area around 260. However, unless that level is reclaimed decisively, the path of least resistance remains to the downside.
Key support levels to watch are:
199 – First major support
149 – Secondary support
86–90 – Long-term measured target based on the wedge breakdown
Bearish thesis invalidation: A strong daily close above 310 would invalidate the current bearish setup and shift the outlook back in favor of the bulls.
While short-term bounces are always possible, the combination of multi-timeframe bearish divergence, a completed rising wedge breakdown, heavy distribution volume, and a confirmed reversal candlestick pattern suggests that the correction may have only just begun. 
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9/17/26 - $onon - this is just getting ridic.9/17/26 :: VROCKSTAR :: NYSE:ONON
this is just getting ridic.
- so the tl;dr that's fairly well accept this point is NYSE:NKE is totally cooked, probably never going to pull a resurrection, so they'll drown the whole industry as they dump a mis-managed and (pretty crappy IMO) inventory into a weak consumer as the channel purges, doesn't reorder, discounts. etc. etc. etc.
- clearly this pain is being felt across... anything in this blast radius, NYSE:DECK , NYSE:ONON , even NYSE:BIRK that just trades in sympathy b/c it's consumer, shoe etc. etc. and actually holding up reasonably well all things considered.
- NYSE:ONON has a big event later this month, founders r buying shares (the complete opposite of many "favorites" today e.g. NASDAQ:CRWD where they can't get out fast enough!) and at 7.5% fcf yield, net cash and we're probably 2/3 way thru this consumer mess (from a stock perspective), we're officially in the:
- "great asset at a very reasonable price" territory.
- does it go to $22... $23/shr? honestly idk. coin flip. is this a $26/shr stock in a 1-2Y context? also no probably $40+
- so you look at this and given net cash position at $20/shr (let's even over estimate the reaction), you have 334M shares * $6.50 (today's px vs. the $20) and you take off round numbers $2.2B off the $8B enterprise value today = $5.8B. they'll do $600M at the low end in FCF this year (even in a crappy rekt consumer environment). that's >10% yield. they'll grow minimally HSD in this crap scenario and that's just .... a nonsense valuation. i don't think we get there.
- so if you say $22.5/shr (mid pt of my 22 and 23) that's 15% downside (and you'd have conviction to size up there) vs. $30/shr in the 6-12mo timeframe (minimally). completely balanced. you can even sell $30 OTM covered calls to improve your basis if you're concerned.
- point is. we have
- valuation math (i know i know, i'm the last guy still using math) looking attractive
- great product that will eat from Nike's slop for the next few years
- founders engaged and buying
- great balance sheet
- improving margins
- stock's a buy here and lower.
V 
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What's Next for Apple with a New CEO & Foldable iPhone?Story
Apple unveils its new iPhone lineup on Wednesday, the first major product event of John Ternus's tenure as chief executive.
Apple shares fell around 2.5% on Tuesday to near $320, giving back part of the 2.7% pop made on 1 September, Ternus's first day as CEO. The stock remains within reach of its 2026 all-time high of $344.57.
Technicals
Price has climbed from the April 2025 low through a rising channel, with both the 20-week (30,791) and 50-week (28,119) moving averages trending up and price holding comfortably above the 150-week average (23,418).
The two bearish technical pieces of evidence are
1. The bearish engulfing weekly candle at the end of July
2. The 14-period RSI has been tracing a series of lower highs even as price pushed to fresh peaks, a bearish momentum divergence.
A push up to record highs on a well-received launch would go a long way to clearing the divergence concern; a break back below the rising channel, roughly in line with the 20-week average, would open a deeper pullback toward the 50-week line instead. 
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