Cedar Fair Stock is Ready to Breakout

NYSE: FUN | Cedar Fair, L.P.  News, Ratings, and Charts

FUN – A level of resistance has formed in the chart of Cedar Fair LP (FUN). If the stock breaks through this level, than a breakout could soon occur. Read more to learn how to profit off this trade.

Get Free Updates

Join thousands of investors who get the latest news, insights and top rated picks from StockNews.com!

A key level of resistance has formed in the chart of Cedar Fair LP (FUN).  If this level is surpassed, the stock could see a breakout.

FUN operates amusement park-resorts located in various states across the USA and Canada, including Cedar Point, Kings Island, Canada’s Wonderland, Dorney Park and the Wildwater Kingdom, Valleyfair, and more.

The company has been struggling during the pandemic as many parks were closed during the lockdown. In its most recent financial results, revenue was down 88%. The company is currently burning through cash and $300 million in new debt was issued at the start of the fourth quarter.

FUN only had $225 million in cash as of the end of the last quarter, compared with $2.7 billion in long-term debt. Though the company does have a current ratio of 1.2, indicating it can meet short-term liabilities.

Sales are down over 72.5% for the past year, but are expected to grow 425.8% next year as the vaccine rollout continues. Even still, the stock has a high Price to Sales ratio of 5.6.

While the stock has shown bearish momentum over the long-term, its recent performance has been positive. This has led to a “Neutral” rating in our POWR Ratings system.

Take a look at the 1-year chart of FUN below with my added notations:

 Chart of FUN provided by TradingView

During the past six months, FUN has formed a key level of resistance at the $40 (red) mark. The stock has tested that level multiple times and has now sits just below that $40 again.

A solid close above $40 likely means higher prices for FUN.  Therefore a long trade could be entered on a breakthrough of the $40 level.

Want to Discover More Great Trades?

I have explored virtually every flavor of technical analysis and chart pattern known to mankind. The sad fact is that the vast majority of them don’t work at all.

That is why I recently put together this special report to help investors focus on the only 5 chart patterns that matter…the ones that lead to the most timely and profitable stock trades. Click below to get your copy now!

5 WINNING Stock Chart Patterns

Have a good trading day!

Good luck!

Christian Tharp, CMT

@cmtstockcoach


FUN shares were trading at $39.49 per share on Tuesday morning, down $0.15 (-0.38%). Year-to-date, FUN has gained 0.38%, versus a -1.24% rise in the benchmark S&P 500 index during the same period.


About the Author: Christian Tharp, CMT


Christian is an expert stock market coach at the Adam Mesh Trading Group who has mentored more than 4,000 traders and investors. He is a professional technical analyst that is a certified Chartered Market Technician (CMT), which is a designation awarded by the CMT Association. Christian is also the author of the daily online newsletter Todays Big Stock. More...


More Resources for the Stocks in this Article

TickerPOWR RatingIndustry RankRank in Industry
FUNGet RatingGet RatingGet Rating

Get Free Updates

Join thousands of investors who get the latest news, insights and top rated picks from StockNews.com!


Most Popular Stories on StockNews.com


:  |  News, Ratings, and Charts

Is General Motors the Next Tesla?

GM is not only a value play...it is potentially an explosive growth stock given a massive investment in electric vehicles. Time to get on board General Motors shares before its too late. Read on for more...

:  |  News, Ratings, and Charts

How to Outperform the Stock Market in 2021

The S&P 500 (SPY) is up over 70% from the ferocious bear market low set in March of 2020. Let me be emphatically clear…IT WONT BE THAT EASY IN 2021! So let’s discuss the 2021 stock market outlook including a game plan to outperform in the year ahead and my top 12 picks for today’s market. Read on for more…

:  |  News, Ratings, and Charts

2 Chinese Stocks Rated Strong Buy: EHang and Daqo

China’s fast recovery from the pandemic has given it an edge over the rest of the world. A strong recovery in China’s household spending is driving its growth. And because the country is now engaged in various diplomatic moves and trade deals to boost its economic growth, we believe stocks like Daqo New Energy (DQ) and EHang (EH) have enormous growth potential. Here are some details.

:  |  News, Ratings, and Charts

3 Lesser-Known Cloud Stocks to Add to Your Portfolio

There is a growing shift to cloud computing in today’s technology landscape. This has helped the key cloud service providers grow exponentially over the years. In-part because the COVID-19 pandemic accelerated the pace of transition last year, most well-known stocks in the cloud space are currently trading at sky-high valuations. So, investing in lesser-known cloud service providers, such as Paylocity (PCTY), Inovalon Holdings (INOV), and Pluralsight (PS), could be highly rewarding now. Let’s evaluate.

:  |  News, Ratings, and Charts

2 Chinese Stocks Rated Strong Buy: EHang and Daqo

China’s fast recovery from the pandemic has given it an edge over the rest of the world. A strong recovery in China’s household spending is driving its growth. And because the country is now engaged in various diplomatic moves and trade deals to boost its economic growth, we believe stocks like Daqo New Energy (DQ) and EHang (EH) have enormous growth potential. Here are some details.

Read More Stories

More Cedar Fair, L.P. (FUN) News View All

Event/Date Symbol News Detail Start Price End Price Change POWR Rating
Loading, please wait...
View All FUN News