Long Position on STM @ $24.00 on 3/9/2018 (Momentum)

STMicroelectronics N.V. (STM) designs, develops, manufactures, and markets semiconductor products, and subsystems and modules worldwide.

The company offers a range of products, including discrete and standard commodity components, application-specific integrated circuits, full-custom devices and semi-custom devices, and application-specific standard products for analog, digital, and mixed-signal applications, as well as silicon chips and smartcards.

It also provides subsystems and modules, including mobile phone accessories, battery chargers, and ISDN power supplies for the telecommunications, automotive, and industrial markets; and in-vehicle equipment for electronic toll payment.

The company sells its products through its distributors and retailers, as well as through sales representatives.

Shares have formed a bullish "double bottom" and higher share prices are expected for this stock. Note that the formation is supportd by the stock's 50-day moving average. 

52-Weeks Trading Range: $14.07 - $25.30

Entry Point: $24.00

Stop Loss: $22.80

Target Price: $26.40

Updates

4/20/2018 10:46:45 AM

STM closed at $21.63.

Position closed on 4/20/2018 at price of $21.63 with a -9.88% loss in 42 days.

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