Semiconductor Stock Could Stage a Short-Term Breakout
Arm Holdings (ARM) stock has pulled back to its 200-day moving average, a historically bullish signal.
Semiconductor stock Arm Holdings PLC (NASDAQ:ARM) has seen choppy price action since its late-July bear gap, most recently pulling back to $140.
The stock is still comfortably removed from its April lows, however, and sports a 13.7% year-to-date lead.
According to Schaeffer's Senior Quantitative Analyst Rocky White, ARM is within 0.75 of the 200-day moving average's 20-day average true range (ATR), after spending at least 80% of the last 10 days and 80% of the last two months above it.
This has happened four other times over the past three years, after which the equity was higher one month later three of those times, with an average 9.8% gain.
A move of similar magnitude from the security's current perch at $140.42 would have ARM reclaiming its year-over-year breakeven level.
No direct quote available in the text.
Author's summary: Arm Holdings stock may bounce back.
More News
- Semiconductor Stock Could Stage a Short-Term Breakout - Schaeffer's Investment Research
- THG shares upgraded amid FTSE 250 return
- Epic Games Store is giving away Eastern Exorcist and Jorel’s Brother and The Most Important Game of the Galaxy for free this week
- Are Companies Actually Scaling Back Their Climate Commitments?
- Pokemon Legends: Z-A Brings Back Pokemon Not Seen in Over 10 Years
- "No point in getting rich anymore": Car enthusiasts react to rumor that Mercedes is retiring the G-Wagon
- Fire Country Season 4 Trailer: Who Survives, Who Dies, and What’s Next for Station 42
- ACC Network's Jimbo Fisher: 'I still think I can win the national championship somewhere'
- David Lynch's Personal Stereo Setup Was Pure '80s Hi-Fi at Its Finest
- Gabriel Diallo Earns First Main Draw Win at Roland Garros