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Cypress Semiconductor Jumps into Take-Profit Area

By the monthly open and after the week-end Cypress Semiconductor gaps pre-market open by more than $4 to $22.4 (+26% at the time of posting). It is unfortunate $CY failed short of our proposed buy entry level above $18.15 during the last Friday’s trading session after our trading idea was postedd and receding from $18.14 as it now already reaching into the take profit area.

Trade idea on $CY on 31 May 2019:

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).

In case you have an open position it is maybe now a good idea to consider taking profit when or if it will be nearing $24 as a consolidation should be expected below that level.

Cypress Semiconductor Monthly Price Chart by June Pre-Market Open

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