MTSI Macom Technology Semiconductor Stock – Chart Trading At All Time High

by Olivier on August 29, 2014

Here’s another quick trading idea as right now MTSI – Macom Technology is one of the best looking semiconductor stocks out there. The stock is trading at an all time high. The stock also closed near its all time high. When this happens before a long weekend it is a very bullish sign as traders holding the stock display a lot of conviction. Overall we have a clean and very bullish technical picture. There is no overhead resistance. Everybody who bought the stock in the past and held on to it is now in the green. From a purely technical and psychological perspective there is no reason to sell. This makes MTSI a ‘Blue Sky Potential’ stock. Based on the chart pattern a conservative price target of 28$ looks like a high odds proposition.

Click on chart to enlarge:

MTSI – Macom Technology company description from Yahoo Finance:

M/A-COM Technology Solutions Holdings, Inc., through its subsidiaries, designs, develops, manufactures, and markets semiconductors and modules for use in wireless and wireline applications across the radio frequency, microwave, and millimeterwave spectrum. It offers approximately 2,700 standard and custom devices, which include integrated circuits, multi-chip modules, power pallets and transistors, diodes, switches and switch limiters, passive and active components, and complete subsystems across 37 product lines. The company’s semiconductor products are electronic components used in electronic systems, such as point-to-point wireless backhaul radios, radars, automobile navigation systems, digital cable television (CATV) set-top boxes, magnetic resonance imaging systems, and unmanned aerial vehicles. It serves approximately end customers, such as systems manufacturers, original equipment manufacturers, contract manufacturers, and distributors in various markets, including CATV, cellular backhaul, cellular infrastructure, fiber optic applications, aerospace and defense, automotive, industrial, medical, mobile communications, test and measurement, and scientific applications scientific applications. The company sells its products and solutions through direct sales force, applications engineering staff, independent sales representatives, and distributors primarily in the United States, Asia, and Western Europe. M/A-COM Technology Solutions Holdings, Inc. was incorporated in 2009 and is headquartered in Lowell, Massachusetts.

To make money trading, you do not need to forecast the future. You have to extract information from the market and find out whether bulls or bears are in control. You need to measure the strength of the dominant market group and decide how likely the current trend is to continue. You need to practice conservative money management aimed at long-term survival and profit accumulation. You must observe how your mind works and avoid slipping into greed and fear. A trader who does all of this will succeed more than any forecaster. – Alexander Elder


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