1
Magnachip Semiconductor reported 3rd Quarter September 2021 earnings of $0.38 per share on revenue of $127.0 million. The consensus earnings estimate was $0.16 per share on revenue of $126.9 million. Revenue grew 1.8% on a year-over-year basis.
Magnachip Semiconductor is a Korea-based designer and manufacturer of analog and mixed-signal semiconductor products for high-volume consumer, computer and communication applications.
2
Since 25.10.2021 the stock is consolidating within an area ranging from $19.97 - $18.40.
WHAT DO I EXPECT NEXT?
3
I can imagine that the Magnachip stock will continue to consolidate within the range and might break out of its consolidation channel as soon as the entire market has strength. If the stock moves above $19.97 with higher than average volume, it might be beneficial to buy the stock. When the stock price closes below its temporary low at $18.40 the trading scenario is invalid.
What are your thoughts? Leave a comment down below š
š« No investment advice, I am just displaying my personal opinion which might be wrong!
