CleanSpark Inc. Poised for Earnings Report Amid Bullish Momentum

Wall Street is anticipating that Bitcoin miner CleanSpark Inc CLSK will announce a loss of 18 cents per share, alongside projected revenues of $88.65 million, when it releases its fourth-quarter earnings after the market closes on Monday.

The company has seen its stock price surge by 61.78% over the past year and an impressive 46.43% increase in just the last month.

We will now explore the technical indicators for CleanSpark’s stock and how it aligns with Wall Street’s projections.

Bullish Trends in CleanSpark Stock Ahead of Earnings

CleanSpark’s stock is experiencing a notable bullish trend, currently priced at $14.73. This value is positioned above essential short and medium-term moving averages, including the five, 20, and 50-day Exponential Moving Averages (EMAs).

Chart created using Benzinga Pro

This trend indicates strong upward momentum. The eight-day Simple Moving Average (SMA) at $14.12 and the 20-day SMA at $13.80 are both sending bullish signals. In addition, the 50-day SMA, currently at $11.79, suggests ongoing strength. However, the 200-day SMA at $14.72 could present resistance, as it hints at potential selling pressure.

Looking at other indicators, CleanSpark’s Moving Average Convergence Divergence (MACD) stands at 0.68, indicating bullish momentum. Conversely, an RSI (Relative Strength Index) of 56.04 suggests that the stock is not overbought, allowing for potential further gains.

Operating low-carbon-powered data centers for Bitcoin BTC/USD, CleanSpark’s investors should remain cautiously optimistic but vigilant about the possibility of profit-taking actions.

Analysts Predict Significant Upside for CleanSpark

Ratings & Consensus Estimates: Currently, analysts have a consensus rating of Buy for CleanSpark stock, with a price target set at $19.23. Recent ratings from Cantor Fitzgerald, Macquarie, and HC Wainwright suggest a substantial upside of 58.95%, with an average price target reaching $23.33.

Price Action: As of Friday’s trading session, CleanSpark stock closed at $14.35, marking a 3.54% increase.

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