Wow what a bounce! Surprise earnings for Ambarella, I like the name :D:D:D
Reminds me of Italy <3
An important note is regarding the share float of only 32.73 Millions. Not what we would prefer to trade safely. Price action could jump wildly stopping us out. Therefore be careful!!
I have marked the next pivots and level of support/resistance that might be tested in 06/05/2019 trading session (Tomorrow).
If there is no change I won't be surprise to see the stock keeping testing next higher levels. Though is getting quiet overextended thus a fade testing 100sMA at 42.54 could be a possibility that could vanish perhaps by lunch time when the stock could take back the main up trend impulse. The stock definitely could run next days if stabilize at new high levels.
A nice long above pm levels is my main idea on it but I repeat I would not discard a possible fade to 43sh zone.
As usual:
1) minimum vol 50K at the open
2) Rvol above 2
3) pm pattern does not change
4) 100k per minute for the first minutes!
Have a nice trading session!!
Reminds me of Italy <3
An important note is regarding the share float of only 32.73 Millions. Not what we would prefer to trade safely. Price action could jump wildly stopping us out. Therefore be careful!!
I have marked the next pivots and level of support/resistance that might be tested in 06/05/2019 trading session (Tomorrow).
If there is no change I won't be surprise to see the stock keeping testing next higher levels. Though is getting quiet overextended thus a fade testing 100sMA at 42.54 could be a possibility that could vanish perhaps by lunch time when the stock could take back the main up trend impulse. The stock definitely could run next days if stabilize at new high levels.
A nice long above pm levels is my main idea on it but I repeat I would not discard a possible fade to 43sh zone.
As usual:
1) minimum vol 50K at the open
2) Rvol above 2
3) pm pattern does not change
4) 100k per minute for the first minutes!
Have a nice trading session!!