CORZ advances as buyers dominate and upward price move builds momentum

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Core Scientific jumps 6.55% on earnings

Highlights

Core Scientific revenue from colocation reached $215.4 million in the third quarter, up nearly 60% from the prior period.
Management plans to exit Bitcoin mining by the fourth quarter of 2026, focusing on higher-margin AI colocation that comprised 92% of revenue at a 60% gross margin.
Shares trade with short-term strength but face medium-term selling pressure, with price expected to consolidate between $10.91 and $14.15 in volatile trading.

Colocation revenue surge and strategy shift fuel buying interest

Core Scientific reported a strong surge in third-quarter colocation revenue, reaching $215.4 million—nearly 60% higher than the previous quarter—and billed a substantial 485 MW of capacity, according to TradingView. This robust top-line performance signals increasing demand for the company's hosting services, likely fueling buying interest in the stock. Additionally, management’s plan to exit Bitcoin mining by the fourth quarter of 2026 and refocus on AI colocation, which contributed 92% of revenue at a 60% gross margin in the latest quarter (as reported by Kucoin), positions Core Scientific to capture higher-margin growth opportunities while reducing exposure to volatile crypto mining.

Divergence in technicals as short-term gains face mixed momentum

On the technical front, CORZ is trading above the MA-20 at $11.87 but below both the MA-50 at $12.81 on the hourly chart and the MA-200 at $19.51 on the daily chart. The Ichimoku Kijun serves as immediate support at $12.43. Among momentum indicators, MACD currently points toward a strong sell bias, while ADX gives a buy signal. RSI and CCI are both neutral, whereas Stochastic RSI is in the overbought range, raising caution for a near-term pullback. Bull/Bear Power remains positive at 0.55, confirming that buyers are dominant in the current session. This setup highlights a divergence between short-term strength and underlying mixed momentum signals.

Downside risk dominates as consolidation expected within volatility range

In the short term, CORZ is forecast to trade within a range of $10.91 to $14.15 based on recent volatility patterns. Probability estimates suggest a slightly higher chance of a downward move (59%) versus an upward breakout (41%) over the next several days. The baseline scenario is for price consolidation within this range; a bullish outcome would require a sustained push above resistance, while a decline below support could prompt further weakness.

Anton Kharitonov, expert at Traders Union, sees Core Scientific’s strong colocation revenue and strategic pivot to AI hosting as positives, but remains wary of lingering technical weaknesses and mixed momentum signals. He notes that, despite near-term buying, the stock remains capped below key medium and long-term averages, and indicators suggest the risk of a pullback is high. Base case remains for consolidation between $10.91 and $14.15 unless clear resistance is broken. "Until the price decisively clears $14.15, caution is warranted and the upside looks limited."

Earlier, analysts noted that Core Scientific was undergoing a strategic transition away from Bitcoin mining in favor of expanding its high-density AI data center and colocation operations. The latest financial and technical developments reinforce the importance of monitoring the $12.81 level on the hourly chart as a potential inflection point for traders.

Source of Data: CORZ Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.