Amkor Technology (AMKR) is one of the world's largest providers of outsourced semiconductor packaging, design, and test services. Its share price has doubled from its July low so let's check out the charts to see if more gains are possible.
In the daily bar chart of AMKR, below, I see a base pattern from January to November with an upside breakout in the middle of the month. Prices are trading above the rising 50-day moving average line after a test of the line in December. The slope of the 200-day moving average line turned positive in November.
The On-Balance-Volume (OBV) line shows strength from June followed by a sideways trend from August. The Moving Average Convergence Divergence (MACD) oscillator is currently back above the zero line in buy territory.
In the weekly Japanese candlestick chart of AMKR, below, I can see that the shares have broken above their 2021 highs. Prices are above the rising 40-week moving average line.
The weekly OBV line shows improvement from June. The MACD oscillator is in a bullish alignment above the zero line.
In this daily Point and Figure chart of AMKR, below, I can see an upside price target in the $39 area.
In this weekly Point and Figure chart of AMKR, below, a price target in the $53 area is being projected by the software.
Bottom-line strategy: Traders interested in going long AMKR should wait for a dip to the $28 area risking to $24. Our first upside price target is $39.
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