Last Friday, overall tech stocks plunged due to a macro event where Robert Boroujerdi, global chief investment officer at Goldman Sachs, warned that low volatility in Facebook, Amazon.com, Apple, Microsoft and Google parent Alphabet may be blinding investors to risks such as cyclicality and regulation.
Through this I identified a few major tech counters that would rebound first (AMD, NVIDIA, MU, SQ). I then looked at companies in a similar industry that had lower volumes and focused on the fundamentally strong companies.
CEVA was one of these companies that had repeatedly over delivered in their earnings, the Ceva chart was also on an uptrend prior to this bearish plunge. Using Fibs as an entry and exit let's see how this goes
Through this I identified a few major tech counters that would rebound first (AMD, NVIDIA, MU, SQ). I then looked at companies in a similar industry that had lower volumes and focused on the fundamentally strong companies.
CEVA was one of these companies that had repeatedly over delivered in their earnings, the Ceva chart was also on an uptrend prior to this bearish plunge. Using Fibs as an entry and exit let's see how this goes