Currently in a down trend channel, but closed back into a previous bullish channel. We will know in a couple days the direction this will trade in. Wait for confirmation and then trade accordingly.
Pretty basic idea.. that the bull trend in semis and AI will help this stock to reach its previous ath which was a long time ago but the pattern might be similar.
Just an idea. Might work, might not work. Only time will tell
I've been tracking the steady downward channel along with the similar pattern in the RSI, today the RSI broke up and out of the channel (see the green arrow), perhaps signaling a reversal in the downward price channel.
I have been keeping an eye on NASDAQ:AAOI and wanted to get in a couple of weeks ago but did not want to chase it.
It has now pulled back and the last couple of days have been explosive. I took a one-third sized position yesterday (1/4/24) and added two times today to bring up to a full position.
The proper or traditional entry is yet to come as it breaks above...
Still in bullish channel. HMA has curled up. Go long!
Buy shares as this is very volatile and can turn on a dime. Wait for trend confirmation if buying options.
Applied Optoelectronics has re-entered its extremely bullish channel that started in June. Volume has been double (average 2M, now 5M) as buyers are pouring in with the projection of AAOI being profitable next year.
Technically we are extremely overbought, but the trend is your friend! Go long.
Buy shares and hold. Options are over 100% IV.
We are back in this extremely bullish channel! All indicators point to up except volume. Just waiting for another 30M day in volume to reach that middle point in the channel. Thats a 40% gain. Holding March 10 calls. Adding more to my position. Join me!
Perfect 0.618 retest on wave 2 and 1.618 on wave three similar to wave one. If we bottom here at the 0.5, then the final impulse wave should also be a 1.618.
NASDAQ:AAOI
RSI is in the overbought territory, and the price is significantly distant from EMA20, indicating an extended condition. Additionally, we are currently in Wave 3, which suggests the potential for the price to reach $11.30 before a correction. However, considering the risk-reward ratio, it is no longer acceptable. I anticipate a pullback to the range...
AAOI has trended up more than 450% since May 23th. The big question is can it continue?
The factors include:
1 Volume - volume is what causes price action. Here rising volumes above the running mean
suggest that there is plenty of volume support for price action.
2. Anchored VWAP analysis is that after a pullback in VWAP levels in mid June price has been
rising...
This stock has a nice upward trend since July 2022 when the rest of the market begin cooling off. It has broken through the EMA200 level and has the opportunity to make it to the $5.10 level within the next year based upon fundamentals. With the RSI being above 70, I look for a pull back to the 50 range and then a climb again. There many sellers at the $8.10 range...
Possibly needs a catalyst to achieve this. But it is bound to retest imo. Looks like we had 5 waves down already so perfect time to go from oversold conditions to more reasonable prices for this stock.
