I am looking for AMBA
to bounce off of its 100MA and lower channel trendline
. I do caution that I believe we might see a flush through the MA and trendline
before using it as support. With the gpro
lock up, we might we support levels flush through before bouncing.
I have set up a buy target just below the MA and trend lines
between 48-49. I have a tight stop of 47 because it is possible that we break total down in the near term.
This is a high risk trade. If we do bounce I think we get back up to the 50MA range for a retest