AMBA clears the century mark
Many a great trader have said that a stock can run much further than anyone considers logically possible. Since the end of May AMBA has run about 46%. Since the February low of 48.50 AMBA has more than doubled! And since breaking out of a consolidation on 5/15 AMBA has yet to touch the 10ema. Of course it will come down to earth at some point but when it will is anyone’s guess. With AMBA making new highs on the heaviest volume in months, clearing the century mark at $100, and doing this while the indexes have sold off is a sign of true strength.
Continue to watch volume over the next several weeks and see if it remains elevated should AMBA continue its ascent higher. If it begins making fresh highs on low volume, it could be a sign that demand is drying up.
View the rest of ChartYourTrade's Top Gainers on Volume here: chartyourtrade.com/gainers-on-volume/
Continue to watch volume over the next several weeks and see if it remains elevated should AMBA continue its ascent higher. If it begins making fresh highs on low volume, it could be a sign that demand is drying up.
View the rest of ChartYourTrade's Top Gainers on Volume here: chartyourtrade.com/gainers-on-volume/
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.