Solistica

SIGM potential short

NASDAQ:SIGM   SIGMA DESIGNS INC
30 0 6
SIGM             generally is down in revenue from past quarter reports, but over the last year, it's beat it's estimated EPS             every time! There's been a lot of action around Earnings Report dates and maybe that's because investors are expecting them to finally produce a positive revenue report, not just a positive EPS             .

Can we use this to our advantage?

By Mid-May we should see this poke below $6.00, at which point we will know that it's likely headed to it's confirmed support zone of $5.40.
Once it bounces off of that support zone and the daily / weekly trend reverses, we can probably expect a ride back to $6.40-$6.60.

Once that peak gets shorted, we'll likely see this 'W' formation continue and attempt to hit it's support zone one more time, before the earnings date nears, investors pump it up expecting positive revenue and EPS             , only to be disappointed and sell-off shortly after.

We'll know more about where SIGM             is at in the upcoming month, hopefully some news is released that allows us to speculate a change or lack of, in their revenue numbers.

I'll post new charts when we near the Support Zone .

Thanks for reading, happy trading!

Trade closed: stop reached
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