Hello - I am new member and am so far enjoying all EliteTrader has to offer. I know this site is more about day trading and the like. But I have become interested in Ambarella has a swing trade play. Today, it is trading around $55/share, and it is down from $125 just 2 1/2 months ago. As I mentioned, I am thinking of a two-three week swing play. What is the community's thoughts on this once beloved stock? Any technical's out there that show AMBA going even lower in the coming weeks?
Both Daily and Weekly are in the bearish territory. I would wait till it goes down to the 45-ish before buying. However, the key to success is to go with the trend, so wait for confirmation. There's no shame of picking the bottom (or top), but do that too often and you'll be on the fast track to financial ruin.
Actually yesterday's close or today's open would have been a very low risk entry point for a short...
any trade is like a football game: opening shot, defense, offense, tackles, substitutions, endgame , whatever u name it... only at the end of the game will you find out if you win or lose and how well you played u want somebody to suggested how to kick an opening shot? let say somebody does, and it would be a great suggestion, then what...? how will u play the whole game if u have no clue how to play it...? all those discussion about what to buy (or to sell) are by morons and for morons: they have no clue how to play the game (they even are not aware that there is a game) .... if you do not want to be a moron: do not play the game until u know how to play it (at least in theory)
QXR I am really not sure what you're getting at. I think we all use the forum to gain a better understanding of trading and technical's. Therefore, we are learning from one another. I am not completely naive to trading, I do hold an honorary degree in Finance from an elite business school. I will admit however, that technical analysis was something not rigorously taught and I am delving into this new facet of finance. I am looking at AMBA as a two week (or less) swing trade. Since I mentioned the low it has risen close to 2%. I guess time will tell if I was right on this being a two week play. QXR - I would appreciate your thoughts on the stock.