Integrating Price Action and Hot Sectors
- Posted by Greg Harmon
- on July 9th, 2014
Integrated Silicon Solutions, $ISSI, designs and markets integrated circuits for automotive, communications, industrial, medical and military, and digital consumer markets worldwide. Boring huh? Expect that the chart of its stock price is anything but boring. Take a look.
The stock went through a strong move higher form February until April before consolidating. A break of that consolidation higher over the red resistance line targets a move to 18.50. But the actual consolidation itself gives another reason to look at it. It has produced an Inverse Head and Shoulders pattern that carries a price objective to at least 17.50. The momentum indicators line up for the upside move as well with the RSI bullish and rising and the MACD rising. The Head and Shoulders gives a reason to get involved right now, while the longer pattern looks for a trigger over 15.55. Your money, your choice.
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Gregory W. Harmon CMT, CFA, has traded in the Securities markets since 1986. He has held senior positions including Head of Global Trading, Head of Product Development, Head of Strategy and Director of Equity. (More)
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