Junksolar has been a good swing candidate for months travelling in the box channel while drawing a symmetrical triangle.
And I think the time is now to break out of the box and fly higher! I think the risk is low on this trade as it is still at the bottom of the symmetrical triangle with 100 ma acting as a strong support.
Although I am trading this as a swing, I...
Currently there is a big hype over 5G and I think Inseego is one way to play.
In a quick view, the stock looks like it is drawing a flag or a symmetrical triangle; but I think Inseego will draw a "W" shape instead to finally draw a bullish rectangle.
Looking back 30 ma has been support and resistance so breaking 30ma could turn the stock to "bearish" mode real...
After a stellar earnings, there was a surprising 10% pull-back. *Possibly due to the GME situation and possible concern of a come-back scenario from their rival Intel*
Nevertheless, it bounced back strong from 100ma and the bottom of descending channel; then breaking the descending channel!
As long as the market continues to be bullish, I think AMD will re-test...
After earnings, there has been quite a drop; and I think it has found a good support (consolidating) around 125 to 130 area - also sitting just above 100ma
If all goes well, it will hold the ascending channel for a chance to fill the gap to $145.
Target: $145
Stop: $115
*ARK recently added back their position on U (positive), while there were selling signals...