QuickLogic Corporation
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QUIK worth monitoring closely

203
It appears that the Marketwatch article yesterday more than doubled the usual volume for this ticker. The 1W chart shows the following indicators that piqued my interest:
  • TTM squeeze on, any continuation this week would likely trigger a release.
  • RSX higher highs/higher lows and currently crossing mid-line, indicating there's room to run much higher despite yesterday's 30% gain.
  • Recent PMO crossover at approximately -10; the last time QUIK saw a PMO crossover at this level on the weekly chart was October 2016, where the price moved from ~0.75 to ~2.50 by early March 2017.
  • Although not visible on the 1W chart, there are three significant gaps above the current price that remain to be filled on the daily chart: 1.31-1.56, 2.48-2.90, and 3.78-4.01.


To reach the last two gaps, QUIK would first have to clear the strong resistance trendline dating beginning Feb. 2015; however, if it is able to breakout above this trendline, there's not much stopping a run-up to 3.00.

I'm not taking a position yet, but I will be watching for entry.

Disclaimer: This is only opinion. This is not investment advice. You are responsible for your own trades and conducting your own due diligence.

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