|Day Low/High||44.80 / 46.31|
|52 Wk Low/High||40.33 / 56.51|
In recent trading, shares of Silicon Motion Technology Corp have crossed above the average analyst 12-month target price of $55.75, changing hands for $55.81/share. When a stock reaches the target an analyst has set, the analyst logically has two ways to react: downgrade on valuation, or, re-adjust their target price to a higher level.
Investors in Silicon Motion Technology Corp saw new options become available this week, for the November 17th expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the SIMO options chain for the new November 17th contracts and identified one put and one call contract of particular interest.
Here's a technical look at how to play six stocks trending higher with strong volume.
The stock has formed a rare "cup-and-flag" pattern which targets a substantial move higher.
Investors in Silicon Motion Technology Corp saw new options begin trading this week, for the September 15th expiration. One of the key data points that goes into the price an option buyer is willing to pay, is the time value, so with 234 days until expiration the newly trading contracts represent a possible opportunity for sellers of puts or calls to achieve a higher premium than would be available for the contracts with a closer expiration.
Technical readings indicate an underlying loss of positive momentum.
In trading on Friday, shares of Silicon Motion Technology Corp crossed below their 200 day moving average of $43.46, changing hands as low as $42.35 per share. Silicon Motion Technology Corp shares are currently trading off about 6.1% on the day.
NRP GMLP SIMO are going ex-dividend Wednesday, Wednesday, August 03, 2016
Trade-Ideas LLC identified Silicon Motion Technology (SIMO) as a weak on high relative volume candidate
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