PWI trade ideas
(POWI) Power Integrations Inverse Head and ShouldersPOWI head and shoulders similar to the pattern NVDA had as it confirmed on Jan 23 when it broke above the right shoulder neckline. One significant difference however is that after reaching a high of $91.98 it's been forming a falling wedge just above the neckline without violating it.
Power integrations is it a good time to enter?The Semi conductor manufacturer has some impressive numbers ROA 16.1%, FCF/ Share 0.92 and plenty of cash. Looking at the chart, the trend is still up and the price just bounced off support at 87.25$. Going long here, 1st target around 97$ then previous highs around 110.40$. A close below 87.25$ will invalidate the scenario