Celsius is down over 36% from earnings — My key support levels here

Celsius Holdings (CELH) has been on a sharp slide lately, dropping more than 36% since its post-earnings breakdown. Heading into the report, I was watching the stock trade inside an upsloping parallel channel—something I’ve always viewed as a bearish signal when momentum starts to fade. Once the company missed on earnings, the reaction was immediate and decisive, with CELH selling off hard and breaking below that structure. As someone who relies heavily on technicals, I’m studying where the chart might offer a bounce or at least a pause in the selling.

Before digging into those levels, I think it’s worth revisiting a bit of background on Celsius as a company. CELH is best known for its line of energy drinks, and the broader brand has carved out a strong identity in the fitness-oriented beverage space. That identity is one of the reasons I keep an eye on this name—stocks tied to lifestyle-driven consumer enthusiasm can move quickly, both on the upside and downside, and understanding that backdrop helps me stay grounded when I’m analyzing its chart.

Right now, the technicals bring me back to the same question I ask after any big earnings-driven move: where might buyers step back in? For me, the first meaningful level of support sits around the $34 pivot low. That’s the area I’m watching for an initial reaction. If selling pressure continues, my secondary support sits lower, around the $32.32 pivot low from May of this year. Those are the two key zones on my chart where I’ll be paying close attention to how price behaves.

And as always, risk management needs to come first. No matter how clean a level looks or how compelling a setup might be, protecting capital is the only way to stay in this game long-term. I rely on my technicals, but I also respect the fact that markets can do anything—so staying disciplined is what ultimately makes the difference.