STMicroelectronics N.V.

STM | ABC Corrective Pattern

88
- Relative weakness to the Semi Conductor Index and the Q's
- Downward revision estimates for the next several quarters
- No clear plan for margin improvements

- StochRSI sell signal on daily
- Volume profile bearish
- Price below the 50MA and 100MA, is a death cross coming?

Keep in mind the chip shortage could be beneficial to STM , allowing for greater price control.
However, the Q's might have another leg down as the US10Y yield is coming up on 2%

Currently I don't have a position in STM but it has been added to my short list, watching for break of TL or another rejection of the 50MA. Expecting trigger by end of week.

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