MichaelGLamothe
Long

Strong breakout and follow through for AAOI

NASDAQ:AAOI   APPLIED OPTOELECTRONICS INC
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AAOI broke out of an inverted head and shoulders bottom on Friday and so far is following through strongly to the upside. This is best picked up on the daily chart . Note how AAOI broke through the neck line on MASSIVE volume . The 2nd highest we've seen on the daily chart .

On the weekly chart, note the massive volume surge as AAOI consolidated along the 10wk line, found support, and began to surge. This is what is known as "volume discovery". When the market takes notice in a big way and institutions pile in, it is clearly visible like this on the chart.

Also of note, AAOI first appeared on our ChartYourTrade MRI stock scanner back in November of 2016 and has appeared on it every week since. This has given subscribers, as well as yours truly, plenty of opportunities to build and trade around positions.

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