Based on the below fundamental, the idea is to go long. Technical Analysis does not give any significant signal of buying/selling.
The idea, based on Technical Analysis, is to wait to see if there will start a retracement price soon before buying.
Ambarella — The semiconductor company’s stock tumbled 4% in extended trading after Ambarella provided its...
Not too long ago AMBA was a Wall Street darling until Citron sniped them (one of their few good short calls). After three years of price action purgatory, AMBA looks ready to rock again. I"ll be watching for some red-to-green price action for an entry. I'd like a retest of the previous highs (~$65) but it doesn't look like it wants to get there.
AMBA can be seen to be displaying many chart patterns including, channels both ascending and descending, ALOT of Horn Tops, a rounded bottom, and an Adam & Adam double bottom. Recently a downward trend break can be seen, forming a new upward trend. This may lead to new upsides. Potential long opportunity.
Ambarella used to be the darling few years ago.
So, is the worst over now?
Do your own Fundamental research.
But the charts are telling us that it is prime for a move to the upside and begins a new bull market rally.
But there are plenty of resistance and things will be more clear after breaking up the all time high.
Can Ambarella breaks that and go higher?...
AMBARELLA INC (AMBA) Bat pattern execution with a 2.24 B-C projection showing extreme price action. respected the PRZ with a 1pt difference between top end and lower end. would prefer more harmonic numbers in this area however price action in good and has reversed nicely.
Fibonacci retracement too shows areas for TP, 0.382 looking like key support area so...