AMBA finally cracked the $60 level and held firm. No doubt this daily chart looks good.
As you probably know I have been banging the table on this stock since early November. The cost basis I have on this position is under $52 and I took 70% off today. Hopefully AMBA pulls back like it usually does following similar price moves. This will allow me to add back my full position at a lower price.
AMBA reports earnings December 3rd. Obviously GPRO, their biggest customer is in the slumps, or are they?
Wish for the absolute worst after AMBA reports. If you’re lucky shares will be down 20% and you have the opportunity to buy into one of the greatest growth stories in the public markets.
I wholeheartedly agree, good sir.
I sold at lower levels. Hoping, indeud, for an entry point.