[Swingtrading] AMBA Longterm set up
Ambarella, Inc. BATS:AMBA
AMBA is currently moving sideways; I suggest exiting now and buying back in at 71.
- 71 (50-week SMA).
- Historically, it might break out from here and retest the 50-week SMA. If it drops further, just hold—since it's in a sideways pattern, it will likely return to the 80 range eventually.
- Consider buying a small position to hold; this could be the formation of a bottom.
