You may have noticed old friend SIMO back in the Roth IRA per NFTRH 319. That was me in essence jumping the gun just a bit on its chart. Silicon Motion is a Taiwan based fabless Semiconductor company.
The daily chart is breaking above the SMA 50 today with RSI going 50+. If it remains above the MA 50, the measured target is 27.
Adding more perspective is the weekly chart showing a large Cup & Handle with a recent correction down to support. That would be the Handle.
Buy Target: As close to the daily SMA 50 (currently 24.03) as possible.
Sell Target: 27 (although the weekly Cup & Handle would target much higher levels)
Stop Loss: Below 23, 22 or as suits risk tolerance. Do not let it go lower than the November low and the SMA 200 (21) unless you are involved for reasons other than technical ones.
A reminder that chart based NFTRH+ updates are just trade setup ideas, which may not be revisited as the parameters are already noted. They are meant as a starting point for further research if interested. Fundamentals-based ideas are also provided for your further research only.
