It's dangerous to bet against the trendI have some followers who made quite a loss shorting this stock. They believed it has gone overboard with its buy and decided to short against it. Some did the intrinsic value calculations and felt it is also way over valued by a double digit percentage and short it. Both groups suffered losses !
Drawing a simple trend line tells you the bullish trend is still intact and strong. At the current price, the possibilities of it having a pull back and close the gap 2 is higher than gap 1 now. Others rely on candlesticks and think that a bearish pin bar means must sell only to be disappointed with its strong rally as evidenced several times in the chart.
Understanding the macroenvironment of the chips industry globally also plays a part in pushing up the prices of these stocks. But at some point, it has to regress to its mean value before deciding the next route.
If you own say 5000 shares of this company and bought last year (Oct -Dec), then maybe you want to offload 30-50% and take some profits. However, do bear in mind that the market is irrational and prices can continue to go higher and higher despite its rich and extended valuation.