The "event" must be underwhelming. The stock has dropped over a point in the past few minutes.
The consensus is it could test around $85, and trade in that vicinity for the duration of the bear market.
Accumulation patterns hardly ever look like this....There are absolutely no fundamentals in the oil space that would justify a move from about $27 to around $36 in less than two weeks. I'm not complaining, but I don't think this is sustainable; I'd rather see a lower volatility accumulation move.
And the stock is up in premarket....Now I understand how this works.
They all think we're heading back to test the highs again....by this coming Thursday! That's it, buy everything! Take out a new loan, mortgage the house! Honestly, I wish they'd all just shut up and admit they have no idea where the market is going next.....Those would be the "strategists" that I would respect....
"The bull market is not over", "We're buying energy, consumer discretionary, blah blah", "If you sell now, you'll miss the rally"....Same story over and over again.
On a related note, I just got back home, and it's trading at about $81.50 in AH....does anyone know how low it traded before this, or this number the low in AH? Thanks
Because the market is fragile right now, they look for any excuse to sell off. This was an excellent report, guidance did not fall short, and even at $80-$81 the stock remains in a long term uptrend. I'm adding more now.
It's interesting that AVGO, another fast growing semi stock with exponential applications, has almost the exact same chart as AMBA......
I'm expecting a mea culpa from Citron. It may not come in a formal press release, but you can bet they'll have to cover their short....The long term charts (weekly, monthly) remain in great shape, and that's what I trade on....I don't care about the daily swings, the long term uptrend is what's important.
The market is overdue for a bounce, but AMBA should go much higher regardless. Their business is growing very fast!
Well velocity, it's taken 6.5 years, and these morons are finally caving in to the real fundamentals. And yet there are still the talking heads in the media telling clients to buy the dip. The technical damage will be felt for months....but sure, it's all transitory...lol.
Well it took 6.5 years, but now I can say it was worth the wait. And yet there are still the Tom Lee's out there telling clients to buy the dip now.....This technical damage may last quite awhile, even with a brief counter trend rally...Enjoy!
After the end of day reversal Friday, it looked like they were going to try to rally the markets Monday. Something negative is going on out there, maybe another drop in oil futures, but the Dow futures are now down 200...
A half gallon of my favorite ice cream now costs $6.29. Fortunately for me, the day I went to the store it was a "two for one" sale, so I saved $6.29. But yeah, food inflation is nothing new, this has been the case for several years. On a related note, since everyone (in the media, the Fed, others) seem to think this global weakness is transitory, I think we're headed for a protracted bear market.