$200 before earnings? or a retest of $120?
Looking at the overall chart from a monthly standpoint we have a breakout of a bull-flag created from July 2020 till the break out in July of this year 2021. Over the last 5 months has since increased in price by 50%. It would seem that there is area of support between $133 and $146. that is a hot consolidation area. I can see this happening a few ways.
1) Seeing that we have bounced off of the 50 day moving average $146 is the first critical selling point where as it breaks $146.20 we may see gaps up as the yellow lines indicate areas of previous resistance that eventually broke . While the green lines indicate areas of support noticed, the red lines indicate areas of resistance noticed. We will see a push through and close a ATH by the end of the year of $164.48
2) we can have a hiccup and come back to $122.
3)I would personally take a target to $155 and take some off the top and ride the rest to ATH before feburary earnings
Catalyst:
-Xilinex merger
-Chinese government post poning merger
-Chip shortage
-New Product Premire Jan 4th
-Earning Februrary
1) Seeing that we have bounced off of the 50 day moving average $146 is the first critical selling point where as it breaks $146.20 we may see gaps up as the yellow lines indicate areas of previous resistance that eventually broke . While the green lines indicate areas of support noticed, the red lines indicate areas of resistance noticed. We will see a push through and close a ATH by the end of the year of $164.48
2) we can have a hiccup and come back to $122.
3)I would personally take a target to $155 and take some off the top and ride the rest to ATH before feburary earnings
Catalyst:
-Xilinex merger
-Chinese government post poning merger
-Chip shortage
-New Product Premire Jan 4th
-Earning Februrary