Where are the Opportunities in (AMBA)

January 06, 2024, 01:10 am ET, BY James G.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for AMBA

• Buy AMBA slightly over 53.48 target 64.2 stop loss @ 53.33 Details

The technical summary data tells us to buy AMBA near 53.48 with an upside target of 64.2. This data also tells us to set a stop loss @ 53.33 to protect against excessive loss in case the stock begins to move against the trade. 53.48 is the first level of support below 55.07 , and by rule, any test of support is a buy signal. In this case, support 53.48 is being tested, a buy signal would exist.

• Short AMBA slightly under 64.2, target 53.48, stop loss @ 64.39 Details

The technical summary data is suggesting a short of AMBA as it gets near 64.2 with a downside target of 53.48. We should have a stop loss in place at 64.39though. 64.2 is the first level of resistance above 55.07, and by rule, any test of resistance is a short signal. In this case, if resistance 64.2 is being tested, a short signal would exist.

Swing Trading Plans for AMBA

• Buy AMBA slightly over 56.01, target 59.76, Stop Loss @ 55.85 Details

If 56.01 begins to break higher, the technical summary data tells us to buy AMBA just slightly over 56.01, with an upside target of 59.76. The data also tells us to set a stop loss @ 55.85 in case the stock turns against the trade. 56.01 is the first level of resistance above 55.07, and by rule, any break above resistance is a buy signal. In this case, 56.01, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short AMBA slightly near 56.01, target 53.48, Stop Loss @ 56.17. Details

The technical summary data is suggesting a short of AMBA if it tests 56.01 with a downside target of 53.48. We should have a stop loss in place at 56.17 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 56.01, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Day Trading Plans for AMBA

• Buy AMBA slightly over 55.57, target 56.01, Stop Loss @ 55.44 Details

If 55.57 begins to break higher, the technical summary data tells us to buy AMBA just slightly over 55.57, with an upside target of 56.01. The data also tells us to set a stop loss @ 55.44 in case the stock turns against the trade. 55.57 is the first level of resistance above 55.07, and by rule, any break above resistance is a buy signal. In this case, 55.57, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short AMBA slightly near 55.57, target 53.62, Stop Loss @ 55.7. Details

The technical summary data is suggesting a short of AMBA if it tests 55.57 with a downside target of 53.62. We should have a stop loss in place at 55.7 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 55.57, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Check the time stamp on this data. Updated AI-Generated Signals for Ambarella Inc. (AMBA) available here: AMBA.

AMBA Ratings for January 06:

Term →	Near	Mid	Long
Rating	Weak	Weak	Weak
P1	0	0	43.24
P2	53.62	56.01	53.48
P3	55.57	59.76	64.2

AI Generated Signals for AMBA

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This report was produced using AI developed by Stock Traders Daily.  Over the past 20 years this proprietary AI has been refined to help identify the most opportune trading strategies for both individual stocks and the stock markets themselves.  This methodology is also applied to Index options, ETFs, and futures.  The objective of this specific report is to optimize trading in Ambarella Inc. (NASDAQ: AMBA) while incorporating prudent risk controls.

Warning:

This is a static report, the data below was valid at the time of the publication, but support and resistance levels for AMBA change over time, so the report should be updated regularly.  Real Time updates are provided to subscribers.  Unlimited Real Time Reports.

Subscribers also receive market analysis, stock correlation tools, macroeconomic observations, timing tools, and protection from market crashes using Evitar Corte.  

Instructions:

The rules that govern the data in this report are the rules of Technical Analysis.  For example, if AMBA is testing support buy signals surface, and resistance is the target.  Conversely, if resistance is being tested, that is a sign to control risk or short, and support would be the downside target accordingly.  In each case, the trigger point is designed to be both an ideal place to enter a position (avoid trading in the middle of a trading channel), and it acts as a level of risk control too.

Swing Trades, Day Trades, and Longer term Trading Plans:

This data is refined to differentiate trading plans for Day Trading, Swing Trading, and Long Term Investing plans for AMBA too.  All of these are offered below the Summary Table.