Really like the Sector it is in and it’s fundamentals. Also it’s RS is rising. I think this could be an AI star.
Andy
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Earnings stink right now, but are projected to rocket. Accumulation good, composite of 87 is perfectly good, but not great, group is very strong at 7 out of 197. That earnings line inflection is to be looked for and matches the predictions for next year. The left side of the base had heavy selling, IBD prefers it to be lower volume. We would like to see a shakeout at the bottom of that base to improve odds. You could argue you see that, but it was selling all the way down the left side, not a one time deal at the bottom. Never violated its 50dma in the base, so that is probably a sign of support. Had one near-test of the 50dma recently and it recovered in same day, closing in upper half of range and just above 21dma. Certainly looks like a good entry at the moment, sitting at the bottom of the base.
You probably know, but on the weekly chart view, you can see the other top stocks in the group and you can click to see each chart, a good exercise. All the top ones look pretty good, which is why the group is ranked #7, PSTG is past the buy zone, but SIMO is just breaking out today on +54% volume. So we can have a fund challenge on this as I will open a 1/2 position in SIMO today. The one thing about the SIMO base that worries me is that weird downside reversal on earnings, but it made up for it the next day, so I will discount it.
If you want to catch a falling knife bounce, ALAB is bouncing of a double bottom (not and IBD play). I bought a tiny bit to keep me watching it.
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All good points Pete and yes that will be a fun exercise. I like MU funds participation much more and you can do a comparison of the two. As you can see MU has been performing much better Also Simo is a Chinese company so this should be very interesting.
Andy
SIMO is Taiwan based, but may become a Chinese company 
Yahoo says they are Hong Kong based and so does their 20f.
Cayman Islands
(Jurisdiction of incorporation or organization)
Flat C, 19/F, Wing Cheong Commercial Building
Nos
19-25
Jervois Street, Hong Kong Island
Hong Kong
Furthermore, our principal executive offices are in Hong Kong. Previous pro-democracy protests and COVID-19 containment activities have affected our Hong Kong operations and China’s national security law for Hong Kong has reduced its autonomy and could lead to further repercussions from the United States, Taiwan and other countries and may affect our operations in the future.
Andy
Well poop, I hate China and Chinese stocks, but occasionally get sucked in. I will probably get out before they invade Tiawan anyway. Thanks for the good research. Good job checking Funds holding as well, I don’t often do that but should.
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Hey Pete that could be a great trade with China trying to get their chip sector going. The one thing I like about MU is their position with HBM3 and HBM4 coming along for NVDA chips. But they are said to be supply constraint because they can’t produce enough. We both have our walls to climb.
Andy
RE MU vs SIMO. MU kicking SIMOs buutt at the moment. SIMO is in my “fist to sell” spot.
*Not allowed to spell Buutt the right way. So offensive.
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