Inphi Corp. (IPHI) is a company that "produces high-speed analog and mixed-signal semiconductor components and optical subsystems to networking original equipment manufacturers (OEMs), optical module, cloud and telecom service providers." That sounds very technical so let's check out the simple trends on the charts.
In this daily bar chart of IPHI, below, we can see that pieces have more than doubled in the past year. Prices have successfully tested the rising 50-day moving average line a few times in recent months. The 200-day moving average line is bullish and was last tested back in May.
The daily On-Balance-Volume (OBV) line has been climbing higher since May and just made a new (bullish) high for the move up.
The Moving Average Convergence Divergence (MACD) oscillator is poised to cross to the upside for a fresh outright buy signal.
In this weekly bar chart of IPHI, below, we can see that prices made a strong base in 2017 and 2018. Prices broke out on the upside in early 2019 and have not looked back. IPHI is nicely above the rising 40-week moving average line.
The weekly OBV line has been strong and rising for more than a year and tells us that buyers have aggressive.
The MACD oscillator has been above the zero line since the middle of 2018 and still remains strong.
In this daily Point and Figure chart of IPHI, below, we can see a potential upside price target of $127 being projected.
Bottom line strategy: Traders could try to go long IPHI around $80 and risk a close below $74. The $125 area is our price target.
