MichaelGLamothe

Slightly aggressive entry forming in AMBA

NASDAQ:AMBA   AMBARELLA INC
39 0 3
Since reporting earnings last week, AMBA             has spent the time consolidating on low volume around the 21ema as well as the ascending trend line that was formerly an area of resistance (now an area of support). In doing so, it has created a slightly aggressive entry point around 69.37. This would serve as both a break above the HOD from 9/6, a break above the 5ema and 10ema, and a break above the descending trend line from 8/31 to present.

From what I'm seeing in ChartYourTrade MRI, the semi-conductor industry group continues to be strong. Investors.com also shows the group as being ranked 9 out of 197. Those are things that will certainly help AMBA             if its able to break out.
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