I believe ADI will hit $30 by the end of today and TXN will also hit $25. EX-dividend date for ADI is this Wednesday. 22 cents dividend. That will create buying pressure and keep it from selling.
Small selling pressue that we see is because of cleaning some accounts after option expiry date. Those who were assigned the shares because TXN closed below 25 and ADI closed below 30, are cleaning their accounts. This should get cleared by 11AM.
Looking at the 5 min, ADI has a bearish engulfing at 9:45 followed by three spinning tops, and it's been down from there.
I am not selling these quality stocks. We will weather out this S&$t Sometimes to be profitable makes sense to be a little bit stubborn. This is true in swing trading and not daytrading. As I said things should clear out by 11 ET.
To swing traders: Just check out the price action on ADI today and compare it with general market. If you don't see bullish pattern, you need an eye doctor
LOL!!!!!!!!!!! MAJOR bullish engulfing at the bottom! Agreed! I'm still holding. No worries at all. Ooh rah!!!
Just buy it now and keep it till tomorrow AH and you are entitled to 22 cents dividend. Stock will adjust itself because of the dividend and I am not buying it just because of dividend. I am buying it because it is a strong undervalued stock and I believe NASDAQ might close green today after being in red all the day.
I bought ADI last week. It's looking good so far. I was worried earlier when price started fluid down, but looks like the bulls are in control of this one.
I am still on my word. Over $30 by the end of today. If ADI does not hit 32 in 10 days, I will dump it. It means that I am so sure it will hit 52 weeks high soon.