I can translate this for you! "We would like you to panic and sell us some cheap shares so that in a few weeks we can magically issue a buy recommendation with even higher price target!"+
This stock seems so undervalued especially with all it's new products. I sure hope to see this take off soon it has to be a winner.
The daily chart is looking tired. Can't post chart right now but in the past rally beginning in May, the up-waves were on increasing volume and the down-waves on shrinking volume. This latest up-wave has flat tepid volume and it may not be able to make it up to the supply line of the uptrend channel; shortening of thrust. Maybe the ramp into the ER will help.
Agree. The rally seems exhausting in volume. I am expecting it to form a right shoulder. hence I have entered a short position here with the stop at its previous high..
Another observation is that the last down-wave took 6 bars and so far on this up-wave after 6 bars, it hasn't been able to re-take all of the downwave. It's struggling...sellers are gaining.
With the recent upgrades on MU, NVDA and INTC, like @StockJock-e pointed out AMD should be benefited from it as well. Micron Technology: NVIDIA: Intel:
will pop after massive earnings beat. 3 new products all doing extremely well. Apple putting AMD chips in all of their new mac books coming out in December. totally undervalued at 13.80
I think AMD would be another pick for strandle. Either it is going to break the neckline and head back to the 12s or breaking the resistance and up up all the way.