If you haven`t bought SGH before the previous earnings:
Then analyzing the options chain and the chart patterns of SGH SMART Global Holdings prior to the earnings report this week,
I would consider purchasing the 30usd strike price Calls with
an expiration date of 2024-9-20,
for a premium of approximately $2.55.
If these options prove to be profitable prior to...
After breaking the above the range with a gap, I would see the price to retest the previous range before continuing to the upside with a target of 24 USD.
Analyzing the options chain of SGH SMART Global Holdings prior to the earnings report this week,
I would consider purchasing the 30usd strike price Calls with
an expiration date of 2023-9-15,
for a premium of approximately $1.40.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
Looking forward to read your...
* Great accelerating earnings
* Breaking out of its IPO base
* High 3-month relative strength in the Tech sector
* Using the broken resistance of the IPO base as support
* Formed a cup and handle pattern
* Holding up really well even in a correction
* Has been consolidating right above broken resistance for the past 4 weeks.
* Maximum probable ROI is ~41%
* Depth...
$SGH first pullback after is 6 months flat base breakout to ATHs.
Holding up well. Best case it continues to hold today and put in an inside day.
Any snap back really the market can muster, this could provide a nice setup to take advantage of that.
Electronics industry. Looks promising to me. On the weekly looks like a large "W". Todays gap up may close. Process your way.
Have a great week.
From Zacks:
"Smart Global Holdings Inc. is a designer, manufacturer and supplier of electronic subsystems to OEMs. It engaged in the computer, industrial, networking, telecommunications, aerospace and defense markets....
2-year long base
Price consolidating near resistance and All-Time Highs
Decent support around 42~
Significantly higher volume than usual
Wanted to see a weekly close above previous ATH
Expecting a breakout soon
In weekly chart rounded base, bull flag brake out which is at the same time the handle of C&H.
One should pay attention to overbought RSI. Possible upward move after retest AH.
Longterm target based on measured move is around 80$.
Not a recommendation, just an observation.
Possible day trade over 26.50 for a 1 point target. Closed above trend line in a really weak market. Expecting SGH to push higher on Monday. 2:1 ratio.
Today Smart Global Holdings (NASDAQ: SGH) climbed above its 200-day moving average line, a long-term BULLISH signal. And it did so by gapping UP.
TradingView's technical analysis summary is STRONG BUY:
www.tradingview.com
According to CNN Business, the consensus analyst recommendation for this stock is...
Today Smart Global Hodlings climbed above its 50-day moving average line, an intermediate-term bullish signal.
It is now trading above both its 200-day moving average line and its RISING 50-day moving average line.
Tradingview's technical summary is BUY: www.tradingview.com
From a fundamental perspective, 5 out of 5 analysts are recommending to BUY this stock: ...
