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Technology Stocks : Silicon Motion Inc. (SIMO)
SIMO 67.19-1.1%3:22 PM EDT

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To: Elroy who wrote (2572)7/20/2022 3:38:18 PM
From: Rarebird  Read Replies (1) of 2593
 
I took a very hard look at SIMO today in my own way and discovered that the stock is a strong buy technically and fundamentally. This stock is cheap. Technically, the stock has bottomed intermediate term and is headed to the $120-$130 area short term in my estimation (3 months).

Elroy, I know you are not a chart guy, but please take a look at this:

schrts.co

I am looking at a cup and handle on the daily, which is a very powerful bullish set up.

I also love what I am seeing on the weekly:

schrts.co

Fundamentally speaking, I like SIMO's ROE very much. I try to pick stocks long whose ROE is at least double the PE. And SIMO more than qualifies here.

Oh, yes, I took a long position in SIMO today.

I have a history of doing very well with Hong Kong stocks. Last Hong Kong stock I held for a while was FUTU, which provided a five bagger in 3 months last year.
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