Breakout Alert 10: $TECH (Update 2017-10-17)

On August 31, 2017, $TECH broke out from its previous 52-week high of 34.57/share, with below-average volume. The current volume may not be convincing but it is still relatively large compared to the volume of preceding days, indicating a healthy price appreciation. Better observe this stock first, or buy in tranches, since ghost month is not yet over. Its current exit price is 33.78/share. Buy above exit price, sell immediately when it falls below.

Pros:

• Trending up since 2nd quarter of 2017.
• Gross revenue and net income for the 2nd quarter of 2017 grew by 44% and 46%, respectively (based on its 2nd quarterly report).
• "Cirtek acquires 100% of Quintel, a leading provider of advanced high-efficiency, high-performance antenna solutions." - Press release. 

Cons:

• Volume is not convincing.
• Unhealthy general market condition due to ghost month.

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Update (October 17, 2017):

 Exit price now at 40.50/share.

 

CAVEAT EMPTOR