The stock has broken a trend line but I like its core business for the long run.
I have a small position in this title.
Magnachip is a designer and manufacturer of analog and mixed-signal semiconductor platform solutions for communications, IoT , consumer, industrial and automotive applications. The Company provides a broad range of standard products to...
Contextual immersion trading strategy idea.
MagnaChip Semiconductor Corporation, together with its subsidiaries, designs, manufactures, and sells analog and mixed-signal semiconductor platform solutions for communications, Internet of Things, consumer, industrial, and automotive applications.
The share price rose after announcing the director of the company,...
Its showing clear support at the 11.46 level
With Price Target at 13.81
Thats a +16% gain
it closed with a hammer candlestick yesterday with good volume
I love how its hovering around the 50ema
this is definitely one that I am watching closely, patiently
If it closes above the 9 tomorrow and holds above support
I will be looking for an entry with a stop loss at 11.30
Speculation is rife today regarding the acquisition of MX Semi by Sk Hynix. Both companies have refused to comment on this speculation but it has had significant influence on the stock price action today. SK Hynix is the second largest memeory chip maker in the world and its is seen that this acquisition is just another en devour today challenge the number one...
Speculation is rife today regarding SK Hynix is preparing to make a move for the acquisition of a part of MX semi. This is very much a developing story and has given the price a nice pop today. SK Hynix is the second largest memory chip manufacturer in the world, trailing behind Samsung and this is seen as another step to challenge their dominance. It this deal...
MX seems breaking down from a pennant formation. It also seems breaking its long term uptrend. Now if it breaks down its moving averages around $9.93 label, it has good potential do go down further.
* Trade Criteria *
Date First Found- October 23, 2017
Pattern/Why- Pennant & long term Up trend breakdown
Entry Target Criteria- Break of $9.93
That is a channel thats worth keeping an eye on!
In the past it was a nice up and down between the top and bottom of this channel. According to this, it should go up again. And a tiny, microscopic green candle has formed already.
For now, I will wait for the price to give me a stronger sign that it will rise, and then enter my position. But I am 99% sure it will...
Even tough this would go against the trend, we are at the top of the channel again, and I bet we'll see that the price will fall. Why? Easy. Investors will take their profits out, and then traders will take the profits and so the price will fall.
So here are the two things to do.
1) take a small short position first, and enlarge it as the price falls