AAOI | Informative

shkspr Updated   
NASDAQ:AAOI   Applied Optoelectronics, Inc.

RSI is in the overbought territory, and the price is significantly distant from EMA20, indicating an extended condition. Additionally, we are currently in Wave 3, which suggests the potential for the price to reach $11.30 before a correction. However, considering the risk-reward ratio, it is no longer acceptable. I anticipate a pullback to the range of $6-7 as Wave 4, followed by a subsequent rise to $17 to complete Wave 5.
Trade closed: target reached

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