Yes, interesting move today with good price appreciation on double average volume. What is more curious is that this comes less than 2 weeks before earnings so one might speculate that some investor is 'playing the earnings bump'.
Perhaps some fund has checked AXTI's customers and decided that earnings and the outlook will be bullish and wants in before earnings.
From a technical sense, AXTI will need lots of buying volume and price movement to breakthrough resistnace and make it the new support from which to move higher.
I only have a smaller stake here as I have been putting most of my funds to work in HIMX where I am very happy. But, perhaps I should consider bulking up on weakness to play the earnings bump also??? My only concern is guidance as 1Q is generally the weaker quarter due to the long Chinese New Year. But, the earnings date of 25-Feb means that guidance will be given more than halfway through the quarter........and perhaps they will give some guidance beyond 1Q.
thought i would share a few trading ideas with old and new friends. i am recently long NWBO (bios on fire), MRCY (no debt 60% of book w/cash). looking hard at AMSC ,all turning the corner upwards. JMO best of luck everybody. DS
the run at least back to book is waiting on an actual increase in revs and positive guidance .til then we bounce off whatever bottom we find to the low 3's. haven't been able to call this one right since 2010 when it did what it was supposed to.GL