Man, they don’t make it easy. Per yesterday’s real-time NFTRH Trade Log:
Buy SIMO on pullback toward SMA 50. Reason being said pullback within a daily uptrend, potential for Ascending Triangle breakout and especially, soft demand for NAND Flash (may discuss more in NFTRH 511, as a low priority segment).
The thing beat on earnings, disappointed a bit on revenues and this morning gets absolutely dope slapped at the open. It’s always nice to look like a fool for your subscribers once in a while (even though the Trade Log is simply that, not a place for recommendations).
The reasons for owning it are still intact after a wild ride down to shake ’em out. Luckily I was not watching for the worst of it because I am not at all sure how I’d have reacted on the smash of the SMA 200. The soft NAND demand thing sounds odd but when NAND supply is tight and prices are at a premium it actually hurts Silicon Motion, which makes SSD NAND Flash Controllers and wants to see cheap memory readily available on the market.
Anyway, who knows how it will close? But even at today’s worst it held a higher low.
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