Applied Optoelectronics has been one of 2017's best performers. $AAOI had seen a nice correction over the past few weeks and bounced on volume from a rising channel trend line.
$AAOI is not for the faint of heart, as its
beta sits at 2.82 (in laymen's terms this means that this stock is 2.8X as volatile as the overall market).
$AAOI also is not liked by everyone, which may be the understatement of the year. A cool
FIFTY THREE PERCENT of the outstanding shares are
SHORT. I took a position at the end of the day on Friday @ $67.33. I'm guessing the short squeeze continues & my first target is the low $70's. I'd recommend buying on any pullback over the next few days.
The US Home Construction ETF closed above recent resistance at $34 on good volume. The chart looks pretty choppy, so beware if we reverse on Monday. I'll be watching for an entry around $34.25 on
$ITB.
FireEye has been trading in a tight range between ~$14.50 - $16.00 & got a nice bounce on the back of an analyst upgrade to
Palo Alto Networks (one of
FireEye's competitors). It also closed over both of it's shorter term moving averages, which is another signal that higher prices are likely. I'll be watching the $16 area for a breakout in
$FEYE.
Investor, Trader, Attorney, Sports Fanatic (Hokies, Tarheels & Panthers), Dog Lover, Loving Husband & Father.
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