Extractio

Extractio

There is a curious situation brewing in a small-cap supplier of semiconductors. I say “small cap” because this once mighty mid-cap company has been torched down to a market capitalization of just $1.5 billion. It began last year at $89 per share, and currently sits at $24. Compared to the broader semiconductor space, Semtec ( NASDAQ:SMTC ) has grossly...

Extractio

- Large areas of supply at current price from prior trough may compress price following tonight’s earnings. - 200 SMA enveloping price from above. - Fundamentally priced to perfection and will need to revise up to prevent price decline - Targeting a move to $63 post earnings

Extractio

Higher probability of downside move with Lulu earnings scheduled evening of 09/01: 1. Multi-month head and shoulders was cleanly pierced and then retested with downward pressure from its base. 2. Multi-week down trend off of 200 SMA. 3. Multi-day weakness leading to today, with overall rounding of price to the downside. 4. Multi-year support would occur...