Broke down trend. Long vs support at 54I'll probably buy it if there is any dip next week. Hard stop at 54
0YU1 trade ideas
AMBA advance move is about to startCurrently wave (C) is underway and its possible target price near $71. I will buy some when price find ground here.
AMBA approaching short term resistance at 70AMBA is testing the $70 level again today. Since reporting earnings on 9/1 it has spent the month consolidating and finding support along the 50dma. It broke above a descending trend line this morning and is now contending with resistance at 70.
Continue to watch support around the 50dma. AMBA has yet to trade below the 50dma since early June.
$AMBA bear flag, watch for breakdownI'll only trade this if the market breaks down and goes weak on the day tomorrow, $AMBA has formed a bear flag so I'll be watching tomorrow if it can breakdown out of it.
Slightly aggressive entry forming in AMBASince reporting earnings last week, AMBA has spent the time consolidating on low volume around the 21ema as well as the ascending trend line that was formerly an area of resistance (now an area of support). In doing so, it has created a slightly aggressive entry point around 69.37. This would serve as both a break above the HOD from 9/6, a break above the 5ema and 10ema, and a break above the descending trend line from 8/31 to present.
From what I'm seeing in ChartYourTrade MRI, the semi-conductor industry group continues to be strong. Investors.com also shows the group as being ranked 9 out of 197. Those are things that will certainly help AMBA if its able to break out.
$AMBA showing support off ascending trendlineAfter reporting earnings last week, AMBA ran down to and successfully tested the ascending trend line that served as resistance from 6/9 - 8/12. For now it is continuing to show support at these levels. It will be encouraging to see it close above its 10ema today or within the next day or two.
Shake and bake...?We'll see if this drop in $AMBA post earnings turns out to be a shakeout or something more serious. So far it has sliced through both its 10ema and 21ema. It has held the 21ema since 7/6. I think its worth noting that $AMBA traded straight down to the prior ascending trend line that served as resistance from 6/9 - 8/12 and then bounced off of it. This line proved to be support on 8/18. We'll see if it holds today.
$AMBA Long-Term Trend Change. Looking for a long entry point in AMBA as it shows a sustained uptrend developing off the $40 price level base. It is above all moving averages and they are beginning to show an upward trend as well. I would look to enter at current prices with a $60 stop level for aggressive trades or a $30 level for more conservative long-term trades.
AMBARELLA INC, Daily chart - ShortAMBARELLA INC (AMBA) Bat pattern execution with a 2.24 B-C projection showing extreme price action. respected the PRZ with a 1pt difference between top end and lower end. would prefer more harmonic numbers in this area however price action in good and has reversed nicely.
Fibonacci retracement too shows areas for TP, 0.382 looking like key support area so looking there first
Any Criticisms and comments?
looks like tight consolidationneed to work thought the overbought RSI and bearish MACD. $49 level looks good for entry
(DE) Test ema50 support for 3rd time; bottoming process.If bullish, may retest resistance near R1 pivot. OBV has formed a local bottom and MACD and RSI confirm bullish price action. Ema50's slope is nearly flat and price has been lingering near it the previous 4 days.
However, if surprisingly bearish, then it may have a support retest near S2 pivot.
Stalk your entries and obey your rules.
