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ChipMOS TECHNOLOGIES (Bermuda) LTD. Message Board

  • jayand777 jayand777 Mar 19, 2013 11:42 PM Flag

    Technical analysis

    from Stockpicker twp days ago:

    "From a technical perspective, IMOS is ripping higher here right above some near-term support at $9.93 and back above its 50-day moving average of $11.15 with heavy upside volume. This move is quickly pushing shares of IMOS within range of triggering a near-term breakout trade. That trade will hit if IMOS manages to take out some near-term overhead resistance levels at its 200-day moving average of $11.68 and then once it clears more overhead resistance levels at $11.95 to $12.10 with high volume.

    Traders should now look for long-biased trades in IMOS as long as it’s trending above today’s low of $10.25, and then once it sustains a move or close above those breakout levels with volume that hits near or above 142,654 shares. If that breakout triggers soon, then IMOS will set up to re-test or possibly take out its next major overhead resistance levels at $12.60 toFrom a technical perspective, IMOS is ripping higher here right above some near-term support at $9.93 and back above its 50-day moving average of $11.15 with heavy upside volume. This move is quickly pushing shares of IMOS within range of triggering a near-term breakout trade. That trade will hit if IMOS manages to take out some near-term overhead resistance levels at its 200-day moving average of $11.68 and then once it clears more overhead resistance levels at $11.95 to $12.10 with high volume.

    Traders should now look for long-biased trades in IMOS as long as it’s trending above today’s low of $10.25, and then once it sustains a move or close above those breakout levels with volume that hits near or above 142,654 shares. If that breakout triggers soon, then IMOS will set up to re-test or possibly take out its next major overhead resistance levels at $12.60 to $14."

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    • I am not a technician, but I would say the recent trading has been very disappointing. Clearly there is some accumulation going on, but there is also a seller with size keeping the stock from breaking out. The stock has now made several runs at taking out $12.10 with force, but keeps getting knocked back. Volume has been above average, but the seller keeps providing inventory. Don't get me wrong- the stock has made a nice move since earnings, but it really feels like it wants to bust higher but keeps hitting a wall. If the seller was smart, he would take a few weeks off. The stock would likely run a bunch in the next few weeks as word gets out about the strong March sales across the industry, and he would get a much better price a month from now...

      • 2 Replies to jayand777
      • I am expecting an annoucement about the impending EMS listing, maybe as early as next week [as listing is slated for April]. This and expanded coverage in Taiwan could be a catalyst for improved price appreciation.

        Sentiment: Strong Buy

      • David here suggested that the sellers are traders who bought imos about $10.20 this past fall when the secondary offering was made and have been aiming to gain around 20%. The resistance at $12.00 to $12.10 is quite strong. Give this thing a month, and it should be above $13/share as long as the offering in Taiwan is not tendered too low.

        Sentiment: Buy

    • Any update on this? TIA

    • It has been stuck between the 50 and 200 day moving averages for most of the past few days. Imos is a buy up to 12 or so.

      Sentiment: Buy

 
IMOS
21.61-0.02(-0.09%)Apr 17 4:00 PMEDT

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