STM has been beaten down as Apple supplier for ASIC chips and new iphone release this fall should jump start this. It's down 27% from high and await good entry. Viewers come to own opine. The Cboe VIX which started to uptick yesterday from 10-11 to 14. Trade war with China as another factor.
NYSE:STM * CCI showing buy signal for STM. * RSI basing for uptick. * Fib retracement indicates bounce coming as STM has shown zig zag resistance push for awhile. * Zig Zag consolidation breaking out Tech stocks ready to recover, unless you make AMD GPU's. Sales are up over last year. 3-yr EPS growth 98% and ready to break 25 with right conditions, but easy...
Tiny pip gap at 31-32, not worth mentioning but its there. BO +39 Chart has notes
Reversal off the daily harmonic completion. Now it will retrace to at least 32.8 of wave 1, then back up for wave 3
I believe in the stock long-term, but I think there may be a positive channel forming over the next few days, then may exit and re-enter on next dip...
I'm long STM. 2x or 3x potential with low risk on continuation pattern
STM is going to a new high. I purchased the stock at $16.04 in premarket. I am not sure it's a good idea to buy before the market open, because of high volatility. I'll consider a take profit of $17.81 and a stop loss of $15.16, giving a risk/reward ratio of 2.01
The dark force wants you to sell. On the hourly chart we see a test of support formed by a rising window gap around 14. Short term Elliot count shows this to be wave iV down. Elliot says wave 4 never goes into wave 1 territory, and candle stick resistance of rising window very strong. Hang in there, as I said on my daily post...STM still poised for a move up. If...