Integrated Device Technology Inc : Benefit from the uptrend
Entry price | Target | Stop-loss | Potential |
---|
US$9.52 |
US$0 |
US$9.33 |
-100% |
---|
Integrated Device Technology continues its bullish trend.
The company’s fundamentals are still strong. Analysts from Thomson Reuters consensus have revised largely upward their EPS estimates. Moreover, the group has a positive treasury, sign of a healthy situation.
From a technical viewpoint, the security is trading in a bullish trend in the short and the long term. Increasing moving averages let think there will be no reversal in the coming trading sessions. This growth should help to reach soon the USD 11.5 long term resistance.
Thanks to these good indicators, it seems relevant to take a long position in Integrated Device Technology above the USD 9.5 short term resistance. The target price is the USD 10, corresponding to the bullish trend line, and by extension the USD 11.5 long term resistance. A stop loss will be set under the entry point because a breakdown of this level would damage technical pattern.
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