We are buying GSI Technology (Symbol: GSIT) at the opening on June 24th 2019 with a limit order set at $8.7. $GSIT closed last week at $8.63. The initial stop loss should be placed below $7.8.
The motive for this long trade is the dynamic GSIT price trend propped up by the moving average, the proximity of the All-Time-High together with an improving relative strength.
Two resistances need to be overcome before the full bullish potential could be unleashed; a minor one at $9.0 on the weekly chart and the main one visible on the yearly chart (box) extending to the right to $9.5.
GSIT Weekly & Yearly Price Charts
GSIT Real Time Weekly Price Chart
GSI Technology designs, develops and markets a broad range of high performance memory products for networking, military, medical, automotive and other applications. We specialize in memory products featuring very high transaction rates, high density, low latency, high bandwidth, fast clock access times, and low power consumption. We offer unusually long product support life cycles, short lead times, the largest high performance memory product portfolio in the market and complete pre and post-sale support.
GSI Technology offers both Static Random Access Memory products (SRAMs) and Low Latency DRAM products (LLDRAM). GSI’s SRAMs utilize world-class low power 0.25 micron to 65 nanometer CMOS process technologies. Our Low Latency DRAM product line is fabricated using a 72nm DRAM process technology. Many GSI products are specifically recommended for use with a variety of host devices such as NPUs and FPGAs.