CEVA is also one of my favorite stockI am long term bullish on CEVA and expecting it to reach its first target in next few months around $70 and then potentially test previous highs and breakout. Current priced bounced from 0.50 Fib (it did went little more further but reversed) and technically speaking should go to $70.00 and so on... RSI shows bullish divergence on daily as well also double bottom.
It's a great company with strong fundamentals.
CEVA
CEVA: double bottomMy trading software has detected a double bottom in CEVA. The price is currently under the breakout line, but I suspect it will move north soon (it happens often in this pattern that the price dips - actually the stock is a bit cheaper now).
Visit my site lookintotrade.com for:
- free articles!
- trading software
- trading ideas
CEVA LongLast Friday, overall tech stocks plunged due to a macro event where Robert Boroujerdi, global chief investment officer at Goldman Sachs, warned that low volatility in Facebook, Amazon.com, Apple, Microsoft and Google parent Alphabet may be blinding investors to risks such as cyclicality and regulation.
Through this I identified a few major tech counters that would rebound first (AMD, NVIDIA, MU, SQ). I then looked at companies in a similar industry that had lower volumes and focused on the fundamentally strong companies.
CEVA was one of these companies that had repeatedly over delivered in their earnings, the Ceva chart was also on an uptrend prior to this bearish plunge. Using Fibs as an entry and exit let's see how this goes