SIMO Silicon Motion Technologies Bullish Chart Potential New Leading Stock

by Olivier on October 8, 2014

Over the past few weeks SIMO – Silicon Motion Technologies managed to repeatedly grab my attention. Here are a few reasons why:

  • SIMO is trading close to its all time high
  • Bullish ascending triangle chart pattern
  • Impressive display of resilience during recent market weakness
  • Bottoming tails and bottoming tails cluster the past two days

It is really that simple. The stocks holding up best will most likely take off once the weight of the market is lifted. Technically speaking SIMO has everything you could ask for if you are looking for stocks having the potential to be new leaders. Act accordingly.

Click on SIMO chart to enlarge:

SIMO – Silicon Motion Technologies company description from Yahoo Finance:

Silicon Motion Technology Corporation, a fabless semiconductor company, designs, develops, and markets semiconductor solutions for mobile storage and mobile communications markets. It provides mobile storage products, including microcontrollers used in solid state storage devices, such as solid state drives, eMMCs, and other embedded flash applications, as well as removable storage products, such as flash memory card controllers and USB flash drive controllers; and mobile communications products, such as mobile TV SoCs and handset transceivers. Its products are used in smartphones, tablets, digital cameras, notebooks, desktop PCs, and industrial and commercial applications. The company’s mobile storage products are marketed under the SMI brand and mobile communications products under the FCI brand. It markets and sells products through direct sales personnel and independent electronics distributors to original equipment manufacturers and module makers worldwide. Silicon Motion Technology Corporation was founded in 1995 and is headquartered in Zhubei City, Taiwan.

Don’t close your trades without a good reason. – William D. Gann


Investing in your education always pays. Learn how to read chart patterns like a pro! Tischendorf Letter Premium:

Previous post:

Next post: