Breaking a key level to the upside in a clean regression trend combined with positive analyst expectations makes me believe this is a buy for maybe next few months.
Analyzing the options chain and the chart patterns of SMTC Semtech Corporation prior to the earnings report this week,
I would consider purchasing the 26usd strike price Calls with
an expiration date of 2023-9-15,
for a premium of approximately $0.73.
If these options prove to be profitable prior to the earnings release, I would sell at least half of...
As shown in the chart, we broke a bear flag.
Technicals
RSI is weak but growing.
OBV hasn't been this high since early 2000's.
If we can break the 200SMA line with strong technical indicators and volume. I see SMTC as a possible cheap high growing company.
Heavy support/resistance lines:
Resistance: $55
Support: $37.5
