AAOX
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Jul 10 at 10:00 AM
$Applied Optoelectronics(AAOI.US)
AAOI is one of my favourite optical stocks. She has retreated quite a bit from its ATH which provides a fantastic entry point.
Technically looks corrective as a fourth wave and price rebounded just above the 38.2 retrace at 109.
However, it is only three waves up so far and even though yesterday’s rally saw good elevated volume and can qualify as a third wave, price needs to confirm with another push to go past the third wave high of 127.46. That will confirm the five waves up and set up nicely for a bigger second wave buyable pullback for an even bigger rally ahead.
@Captain's Treasure
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