Mobileye (MBLY) Stock Looks Ready to Move Back Into the $60s, 25% Upside
NEW YORK (TheStreet) -- In one of the first stories I wrote at TheStreet, I recommended to take profits on Growth Seeker holding Mobileye (MBLY) .
MBLY fell down to around $42 from $55. In the past two months, MBLY has tested and held the $42 area and now looks poised to try the upside again.
This chart of MBLY, above, shows an $8 trading range for the stock with prices at the top end of that range. The On-Balance-Volume line has been trending sideways during this time, and we can see a bullish divergence between the double or triple bottom in prices versus the higher lows from the momentum study. Prices could close today over the 50-day simple moving average. Traders who got out of MBLY on Aug. 21 could consider rebuying this name for a potential rally back to the low $60s.