TER shown here on a 30 minute chart has asended in a diverging channel to the resistance of
January pivot high shown in the line and zone drawn onto the chart. My idea is to short it
from here targeting first about 106 which is the line drawn from a pivot before the
paradoxical fall with a decent earnings report. The lower target is the support trendline...
I am not aware of the news that caused today's fall but multiple analysts suggest that this is exaggerated. First target at $97 & second target at $100,5.
The daily chart sees a bearish channel but right now there is a good box at the test of the ema 21/50.
A break higher may see a move to break the channel
NASDAQ: TER
Last Close: $110.35
Teradyne is an American automatic test equipment designer and manufacturer based in North Reading, Massachusetts. Teradyne's high-profile customers include Samsung, Qualcomm, Intel, Analog Devices, Texas Instruments and IBM.
Technical Thesis: The stock is flat over 3 years however, is looking to clear it's downward trend line...
NASDAQ:TER Teradyne, Inc.
(tp: 120; sl: 88)
Reasons to buy:
- Bullish seasonality over the next 3 months
- Strong Earnings Growth
- Testing support trend line
Reasons to not to buy:
- -3.81% down last day, might keep going down until the next support lines
- Low trading volume
- High number of SELL recommendations from analysts
Reminder!
Will release...
A lot of semiconductor names showing similar chart patterns. Taking a small opportunistic position on NASDAQ:TER based on 1 day timeframe.
If the price can hold, will consider to add to the current position based on higher timeframes (2D, 3D, 1 week etc.)
The PEAD projected a Bullish outlook for $TER after a Negative over reaction following its earnings release placing the stock in drift C with an expected accuracy of 66.67%.
Market finished 1-5 Elliot wave pattern, but we are waiting for it to finish ABC correction, our forecast of where end of ABC will be is around 77 zone, since there is a strong demand zone and a 61.8 fib level where market should reverse and go bullish. Our target is the top of the gap that market made a few ago and the gap must be filled eventually.
Entry:...
* Exceptional earnings
* Very strong up trend in the long term
* Very high 3-month relative strength of 6.35 in the Tech sector
* Pays out dividends
* I last discussed this early December 2021 when it broke out of an 11 month base.
* Since then it did move higher and due to recent market conditions it had a slight pull back.
* Used $163.03 as support before...
TER showing a pretty strong inverse H&S pattern nearing completion, tomorrow may be the run to the recent high of $163 if market is bullish and it stays above shoulder base around $160.50.
* Exceptional earnings
* Strong up trend
* High 3-month relative strength in the Tech sector
* Breaking out of a ~1 year base with higher than average volume
* Recently used $104.88 as support which was the high from the 2000's
* Broke base resistance ($147.46) and has been using it as support for the past
12 days
* Maximum probable ROI would be ~41.84%
Trade...
$TER strong break of Mayor Resistance- MR (now minor support mS) and strong volume signal a trend change. Wait for a pullback at mS or a mayor moving average (20MA or 50MA)
Monthly bullish candle. Buy any dip from here. Its involved in Robotic automation which is the future and going to see all robots doing the regular labor work in every industry.
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Please like and share if you appreciate this market update.
We are algorithmic traders and certified Elliotticians. We publish Elliott Wave counts for indices, stocks, cryptos, commodities, VIX, DXY, in weekly, daily and 4-hour timeframes. We also answer all your questions regarding the Elliott Wave Principle!
Cryptos are updated every day of the week and on...
