This is an interesting play. ASYS has been consolidating between 4.00 and 6.00 since mid-2018. It hasn't seen tracked the gains to solar and semis so far in 2019. The weekly chart shows a double bottom at 4.00, rising relative strength and a PMO crossover with a bull kiss to boot. The squeeze has been building on the weekly chart since mid-November 2018.
The daily chart shows consolidation since July 2018, an active squeeze on the verge of firing, and higher highs/higher lows on both RSX and PMO. On both charts, you can see where it's trying to break out of the descending wedge pattern.
ER conference call is set for Feb. 7. Improved performance or guidance would likely release the squeeze. If ASYS breaks 6.00, there's not much resistance until it reaches 8.50 and then 10.00. Any pullback before earnings also presents a buying opportunity. There's no technical support below the floor around 4.00. A selloff below this mark might trigger a free-fall, so watch closely. On the other hand, if support is retested and holds, watch for a strong bounce.
Disclaimer: This is only opinion. This is not investment advice. You are responsible for your own trades and conducting your own due diligence.
The daily chart shows consolidation since July 2018, an active squeeze on the verge of firing, and higher highs/higher lows on both RSX and PMO. On both charts, you can see where it's trying to break out of the descending wedge pattern.
ER conference call is set for Feb. 7. Improved performance or guidance would likely release the squeeze. If ASYS breaks 6.00, there's not much resistance until it reaches 8.50 and then 10.00. Any pullback before earnings also presents a buying opportunity. There's no technical support below the floor around 4.00. A selloff below this mark might trigger a free-fall, so watch closely. On the other hand, if support is retested and holds, watch for a strong bounce.
Disclaimer: This is only opinion. This is not investment advice. You are responsible for your own trades and conducting your own due diligence.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.