STM - could this be the bottom ?

Feb 4

I have been watching STM for a while and looking for a possible bottom.

The best I could come up with is the channel shown above.



Weekly MACD and RSI could support this:



The current outlook for STM in 2025 isn't great, but they are one of the key players in the semiconductor sector and will recover in my opinion.

Feb 14

Note

promising so far

Feb 19

Note

now we will see if this is just a move to the upper line of the channel followed by a breakdown or if the bottom is in.

Mar 7

Note

could not be clearer. perfect retest of white and red and now breaking out.

Mar 25

Note

red channel still in play, just a bit larger

Mar 29

Note

since it is trading below white again, I have modified the big channel a bit and expect the bottom to be in the 20$ area:

Apr 3

Note

buy point ?

Apr 13

Note

There we have it, the bottom targeted by big money algorithms: