|COHU is at just above 72RSI after the close. AMAT, with a similar chart, hit 70RSI and backed off. Both declined nicely today.|
In COHU's case, it first must break below the 70RSI which is going to be a barrier now. Since COHU is the stronger stock, I hope to get a good look at COHU, if and when, AMAT's RSI tests 50. That would place COHU at about $21 to $20.
If an overall market decline occurs that lasts more than 3 days, that may knock some strength out of it and force profit-taking. I don't know.