Long Position on INVN @ $21.00 on 10/17/2013 (Momentum)

This stock was featured in July 2013 at $15.50.

InvenSense (INVN) designs, develops, markets, and sells micro-electro-mechanical system (MEMS) gyroscopes for motion tracking devices in consumer electronics.

The company delivers motion interface solutions based on its multi-axis gyroscope technology that target smartphones and tablets, console and portable video gaming devices, digital still and video cameras, smart televisions, 3D mice, navigation devices, toys, and health and fitness accessories.

Its products include 9-axis motiontracking devices that combine a 3-axis gyroscope, a 3-axis accelerometer, and a 3-axis compass with an onboard digital motion processor; six-axis motion-processors that integrate a three-axis gyroscope and three-axis accelerometer for the smartphone and tablet markets; and motion-processors consisting of three-axis gyroscopes digital outputs and software development kits to enable motion interface application development. The company also offers digital gyroscopes.

InvenSense, Inc. sells its products to manufacturers of consumer electronics devices, original design manufacturers, and contract manufacturers.

Shares have formed a tight bullish "cup & handle" and are in the process of moving higher out of this formation. On Monday, Analog Devices (ADI) sold its microphone business to InvenSense Inc. for $100 million. InvenSense said the deal expands its audio business and complements some of its products for mobile, gaming and wearable device customers.

Note that the company plans to release its quarterly results on October 29, 2013. 

52-Week Trading Range: $9.09 - $21.60

Entry Point: $21.00

Stop Loss: $20.00

Target Price: $22.00

Updates

10/23/2013 9:55:26 AM

INVN fell below our stop loss.

Position closed on 10/23/2013 at price of $19.79 with a -5.76% loss in 6 days.

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