Cypress Semiconductor has reported to have received takeover interest. The $CY stock price jumped almost 16% this week by the Thursday close to stall just below the weekly resistance.
If $CY breaks this level it should accelerate higher and rapidly reach the previous All-Time-High at $21 (another platform provides $24 for the ATH so that investors should carefully check on their own trading platform).
The idea is to buy $CY with a stop-buy order just above $18.15 and target an initial take profit of approximately 4$. The position should be protected with an initial stop-loss slightly below $15.
Cypress Semiconductor $CY Weekly + Yearly Price Chart
If the previous ATH breaks in its turn $CY would become a buy again.
No Comments Yet