RY 171.23 -1.0746% SHOP 170.14 2.1432% TD 81.85 -0.7879% ENB 62.92 0.5594% BN 84.78 -1.8636% TRI 244.07 -0.9215% CNQ 44.44 1.6236% CP 111.16 2.0753% CNR 147.09 2.2595% BMO 140.35 -1.2315% BNS 72.0 -0.0971% CSU 4795.7002 -0.5041% CM 88.52 1.351% MFC 42.53 -0.3047% ATD 76.2 1.3163% NGT 62.42 -0.5893% TRP 66.63 1.0005% SU 55.02 0.5299% WCN 269.74 -1.0927% L 182.96 1.4416%

US Technical Analysis Report

One NASDAQ Listed- Technology Stock Poised for Upside as Russell 3000 Edged Lower– CRDO

Jan 31, 2025

CRDO:NASDAQ
Investment Type
Large-cap
Risk Level
Action
Rec. Price (US$)

Company Overview:  Credo Technology Group Holding Ltd (NASDAQ: CRDO) is a Cayman Islands-based holding company. The Company delivers high-speed solutions to break bandwidth barriers on every wired connection in the data infrastructure market. This Report covers the Price Action, Technical Indicators Analysis along with the Target Levels, Stop Loss, Support Levels, Resistance Levels, and Recommendation on stock.

US Markets Round-Up

This week, the Russell 3000 index, an important benchmark of the US stock market across market capitalizations, started the week on a negative note and continued the momentum. The index made low of 3423.68 during the week and settled at 3478.05 with a week-to-date (WTD) loss of ~0.38 percent on Jan 30, 2025. Other major indices, such as S&P 500 and NASDAQ Composite displayed downside move for the week. On Jan 30, 2025, the S&P 500 index settled at 6071.18 with a WTD loss of ~ 0.49 percent, while the NASDAQ Composite Index settled at 19681.75 with a WTD loss of ~1.366 percent.  

Having understood the US market performance over the week, taking cues from major global news, and based on technical analysis of the Russell 3000 index for the upcoming week, now let’s have a look at the one US-listed stock to pick from the technical standpoint. Noted below recommendation is based on the entry price, target prices, and stop-loss for Credo Technology Group Holding Ltd (NASDAQ: CRDO) for the next 2-4 weeks duration: 

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