ARM LONG
We have three chartist patterns here:
1- An ascending channel. It's top (yellow) it's still giving the price more space to go up.
2- Up trendline (orange). It has been touched and respected three times and that means that the bullish trendline is powerful.
3- Symmetrical triangle pattern. We have to put attention to it, because if price breaks to the upside, then it will fuel a rally to the targets given below.
The target is 164.16 and then 174.81 or so. Finally the all-time highs at 182.65.
Also, fundamentals are currently bullish for semiconductors.
1- An ascending channel. It's top (yellow) it's still giving the price more space to go up.
2- Up trendline (orange). It has been touched and respected three times and that means that the bullish trendline is powerful.
3- Symmetrical triangle pattern. We have to put attention to it, because if price breaks to the upside, then it will fuel a rally to the targets given below.
The target is 164.16 and then 174.81 or so. Finally the all-time highs at 182.65.
Also, fundamentals are currently bullish for semiconductors.
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