Long Position on TSEM @ $24.55 on 5/11/2017 (Momentum)

Tower Semiconductor Ltd. (TSEM) is an independent semiconductor foundry.

The firm manufactures analog intensive mixed-signal semiconductor devices in the United States, Asia, and Europe.

The company provides various customizable process technologies, including SiGe, BiCMOS, mixed-signal/CMOS, radio frequency CMOS, CMOS image sensor, integrated power management, and micro-electro-mechanical systems.

It also offers transfer optimization and development process services to integrated device manufacturers and fabless companies.

The company serves various markets, such as consumer, automotive, medical, industrial, and aerospace and defense. 

Shares have formed a bullish "flag" after the company repoted earnings that met the Street estimates, and guided higher going forward.  The revenue forecast for the year was raised from $1.367 billion to $1.378 billion. Higher share prices are expected for this stock.

52-Weeks Trading Range: $11.03 - $25.01

Entry Point: $24.55

Stop Loss: $23.25

Target Price: $27.00

Updates

7/12/2017 12:44:07 PM

TSEM closed at $25.24.

Position closed on 7/12/2017 at price of $25.24 with a 2.81% gain in 62 days.

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