Cup and Handle Ascending Triangle Earnings In AMEarnings 11-24 BMO
ADI broke up from an ascending triangle at 131.05...the top trendline can provide support
The handle low can also provide support as well as a few other levels that are under price
As a rule, stop goes below handle low (HL) or Mid cup which is 103.19
Cup and handles are fairly common and easy to spot. Targets are calculated using the depth of the cup and fibonacci levels
Earnings time is tough as a stock can go down even if they cream earnings
Be safe
NV and OBV are high
Short interest higher than I like but not astronomical
Trade ideas
$ADI Breakout$SMH broke out today and looking for components to push for breakout as well. Thinking of names like $ON $STM $AVGO $LRCX $AMD $MU but it cannot be denied that $ADI chart may be the strongest of them all.
$ADI in a nice consolidation-continuation pattern as it tests all time highs. Go long as $SMH breaks out for a nice potential breakout in $ADI.
BUY To ANALOG DEVICES at market openning
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Await breakout in Analog Devices $ADI
Stock jumps after earnings but failed to breakout.
Order placed above previous high
Analog Devices (NASDAQ:ADI) +5.2% reports Q1 results that beat on earnings but narrowly missed on revenue.
For Q2, ADI sees revenue of $1.35B (consensus: $1.38B), plus or minus $50M, which was reduced by $70M to account for the potential coronavirus impact. At the revenue midpoint, the company expects operating margins of 37.5% (+/-100 bps) and EPS of $1.10 (+/-$0.08; consensus: $1.13).
Q1 revenue breakdown: Industrial, $684.9M (-7%); Communications, $239.9M (-31%); Auto, $205.3M (-16%); Consumer, $173.4M (-20%).
Gross margin was 68.5% compared to the 68.9% consensus. Operating margin was 36.9%, down from last year's 41.2%.
Source seeking alpha






















