LDC870
Long

QUIK worth monitoring closely

NASDAQ:QUIK   QUICKLOGIC CORP
It appears that the Marketwatch article yesterday more than doubled the usual volume for this ticker. The 1W chart shows the following indicators that piqued my interest:
  • TTM squeeze on, any continuation this week would likely trigger a release.
  • RSX higher highs/higher lows and currently crossing mid-line, indicating there's room to run much higher despite yesterday's 30% gain.
  • Recent PMO crossover at approximately -10; the last time QUIK saw a PMO crossover at this level on the weekly chart was October 2016, where the price moved from ~0.75 to ~2.50 by early March 2017.
  • Although not visible on the 1W chart, there are three significant gaps above the current price that remain to be filled on the daily chart: 1.31-1.56, 2.48-2.90, and 3.78-4.01.

To reach the last two gaps, QUIK would first have to clear the strong resistance trendline dating beginning Feb. 2015; however, if it is able to breakout above this trendline , there's not much stopping a run-up to 3.00.

I'm not taking a position yet, but I will be watching for entry.

Disclaimer: This is only opinion. This is not investment advice. You are responsible for your own trades and conducting your own due diligence.
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