$AAOI Near 52-Week High with Strong Momentum in $SOXX
$Applied Optoelectronics(AAOI)$ (11.5% ADR) – Less than 1 x ADR from its 52-week high
Currently trading under 2.5 x ATR% from the 50-MA, within one of the most relentless 3-month performing group in $iShares Semiconductor ETF(SOXX)$ .
The last time it reached this price in early December 2024, it was extended beyond 12 x ATR% from the 50-MA, followed by a -75% pullback over the next four months, before stabilizing on its first quarterly YoY growth in both earnings and sales, and continuing with two consecutive quarters of growth.
Price has risen over threefold +356%, but from a technical perspective, the chart may still present a favorable risk-reward opportunity for a cleaner and more linear price trajectory (look at 2017). A few more days of tightness will get this into our focus list. Next earnings report: 26th Feb after market close.
What's a more compelling semicon name in your watchlist for this week?
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