|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:
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:
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.