CoreWeave Stock Jumps 11.7% To 136.85 As Technicals Signal Bullish Momentum

CoreWeave (CRWV) shares surged 11.70% in the most recent session, marking a two-day cumulative gain of 13.72%, with the stock closing at 136.85. This follows a broader pattern of elevated volatility, necessitating a multi-indicator technical assessment.
Candlestick Theory
Recent price action reveals critical support and resistance thresholds. The 122–126 zone has solidified as support, evidenced by repeated bounces on September 26 and 29, where the stock rebounded after testing 119.50. Resistance now materializes near 142.67 (September 30 high), aligning with the psychological 140–142 level that capped advances in late August and early September. The current two-day rally forms a bullish continuation pattern after a hammer candle at 133.22 on September 30. Sustained closes above 140 would invalidate overhead supply.
Moving Average Theory
The 50-day MA (currently near 118) converges with the 100-day MA (approximately 112), creating dynamic support that has contained declines since August. Crucially, the price recently recaptured the 200-day MA (around 125) on September 29-30, signaling a potential long-term trend reversal. The ascending alignment of shorter MAs above longer ones (e.g., 50 > 200) since early September supports a constructive intermediate-term bias.
MACD & KDJ Indicators
MACD shows bullish momentum: the signal line crossed above the MACD line on September 22, with both trending upward into positive territory by September 30. This divergence from August’s low emphasizes strengthening upside potential. KDJ corroborates this, with the %K line (79) and %D line (72) holding above 70 since September 23. While elevated, the absence of bearish crossover suggests retained directional strength. Convergence between MACD’s histogram expansion and KDJ’s elevated stance reinforces momentum.
Bollinger Bands
Volatility expansion is evident, with the bands widening from a September 26 contraction (133–121 range). Price closed above the upper band (136 vs. 135) on September 30, typically signaling overbought conditions. However, consecutive closes outside the band often precede trend acceleration. The mid-band (20-day SMA near 128) now acts as immediate support, with any retreat likely to find buoyancy near this level given its confluence with volume-weighted zones.
Volume-Price Relationship
The rally’s sustainability is validated by volume trends. The September 30 surge occurred on 70.9M shares—well above the 30-day average—confirming buyer conviction. Conversely, distribution days (e.g., September 25-26 declines) saw elevated volume, indicating persistent selling pressure. Recent accumulation patterns (price-up/volume-up) during the 120–137 advance and the absence of climactic volume >80M shares since June suggest room for additional upside.
Relative Strength Index (RSI)
The 14-day RSI sits at 68 as of September 30, approaching overbought territory (>70) but lacking bearish divergence. Historically, RSI peaks above 75 (June, August) preceded 15–20% corrections, warranting vigilance near 70–72. The current reading remains below those thresholds, though its ascent alongside price strengthens near-term momentum. Oversold conditions (<30) last triggered tradable rallies in late August (RSI=29).
Fibonacci Retracement
Using the swing high of 187 (June 20, 2025) and the subsequent low of 90.32 (August 26), key retracement levels emerge: 113.14 (23.6%), 127.25 (38.2%), and 138.66 (50%). The recent close at 136.85 tests the 50% retracement threshold—a historical resistance zone from August 15–20. A decisive break above 138.66 would target 150.07 (61.8%) and 166.31 (78.6%), while failure here risks retreat to the 38.2% level (127.25).
Confluence & Divergence Notes
Confluence is observed between the Fibonacci 50% level (138.66), the September 30 high (142.67), and Bollinger Band resistance (136–142)—reinforcing critical overhead resistance. Simultaneously, MACD, KDJ, and volume confirm the bullish momentum. A minor divergence exists in RSI nearing overbought without price extremes, suggesting consolidation may precede further gains if volume persists. The 200-day MA (125) and Fibonacci 38.2% level (127.25) now form a robust support floor, having triggered reversals twice in September.