US Stock In Play: $AMBA (Ambarella Inc)

٦ يناير ٢٠٢١

AMBA is currently undergoing a consolidation, morphing out a Bullish Ascending Triangle chart pattern with price remains resisted at $96 range over the past 5 weeks. It has previously broken out of a short term consolidated Bullish Flag chart pattern on 2nd December 2020, rallying from $80 to $95, a quick 20% increment in its absolute share price in just 3 trading days.

This morning's gain of +4.28% sees AMBA closing at $95.25. With AMBA currently trading at a daily average volatility of $3.96 The breakout of the aforementioned $96 resistance only require 20% of its daily average true range to be exhibited this week. AMBA last traded $96 in August 2015.