AMBA acted precisely how I wished. They reported excellent numbers in my opinion. Their guidance was weak, but that should have been expected. I would love to see shares break $50. This stock can get emotional and illiquid pretty fast.
Take this afternoon for example, when just a couple hundred thousand shares moves the stock 5%.
Fundamentally I love AMBA, so at what price do I want to start building a position?
Ideally I would like to see the market flush out all the weak hands and I think that would certainly happen if the $48.30 level is breached. Based on the volume profile of price, a significant amount of shares were exchanged around $50. Traders are likely risking down to the last relative low of the previous dip they bought, which has been around $48.30 a few times.
Lets be patient and watch this crazy stock dance around for the next few days. Ill take a stab long if AMBA breaks the aforementioned price level and significant volume coincides with a rapid and quick decline.
Happy Trading!
you will get your sub 50 price tomorrow. try not to buy at 49 or even 48. This thing sees 42.
This truly is one wacky stock. I went long after your first post on them and wasn’t feeling too happy with myself after I held through earnings… As I’m writing this, I can only assume AMBA has dropped back down to 50.