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  1. #1
    Ageravoggern Guest

    Default Breakout Could Be Just Around The Corner

    InterDigital, Inc.(NASDAQ:IDCC) has finally started to rally and broke out of the consolidation that the stock had been stuck under for the last 2 weeks. It has breached two important levels at 33.08 and 33.33 quite convincingly. I see the next resistance in the 34.20-34.35 area. A move above this area would be viewed very bullish and could cause a huge short squeeze. There are some reasons to start taking an active look at this stock as I have been mentioned several times in my blog posts.

    - The volume chart from OBV has been on an upside indicating strength.
    - The MACD is above 0 showing positive momentum but displaying first signs of divergence between column bars and the trend line.
    - RSI is on a comfortable zone.
    - Trading above both 13 & 50 day moving averages moving upwards
    - It has been making higher lows since June.
    - 13.8% short or 6.1 M & might see a good squeeze above its 200-SMA
    - High short ratio 11.10

    From a technical standpoint the potential for further upside looks far more attractive on purely relative terms. Honestly, I like what I am seeing...Additionally, the company continues being mentioned in the news regularly as a strong potential buyout candidate. This is definitely a stock to watch next week.

  2. #2
    Ailnariquola Guest

    Default

    Thanks and thanks for the chart. It will be interesting if it takes quite a while to get through this large band of resistance. It would appear many will be willing to break even as they have been under for a quite a while. The break may prove to be explosive though, so thanks for sharing!

  3. #3
    Airbladenhu Guest

    Default

    The stock closed slightly below its 200-day moving average of $34.22 with a closing price today of $34.19. In the short-term chart, we have a turning up of Stochastic indicator showing positive signal and the MACD is also sloping up again confirming the Sto’s signal. The nearest trend is in favour of Bulls and IDCC has room to go higher. The accumulation over the past weeks has shown funds moving into the company and moved share prices upward. Today’s high was $34.39, which is resistance for the follow through move. If the stock can break through this level, expect to see heavy volume drive the stock higher. Also watch out for other resistance levels at $34.74 and 35.18. As I said on twitter I increased my long position once again today. I feel confident enough in the company especially after Apple's court victory over Samsung Electronics. InterDigital owns more than 8.600 patents and has an additional 10.000 on application. The patents cover a broad variety of wireless and wire line communication, including 2G, 3G, 4G, and LTE, as well as IEEE 802.


  4. #4
    Airbladerib Guest

    Default

    Hi, everyone. I am following InterDigital, Inc.(NASDAQ:IDCC) too. It is an interesting company. I liked what i read here and i want to share my opinion with you. The price made a nice run from $22.50 to $34.45. As long as it stays above 5 and 8 exponential moving averages, the trend will be upward. However, it seems a little bit oversold at current levels and it will need some correction to gather additional upside strength. It is possible to test $33.70 or 5EMA before attracting new investors. In my opinion possible target is the lower band of the Bollinger Band indicator at $30.61. With ADX at 42 (which is not typical for the price) and -DI at 10.60, the downside correction will occur very soon. Moreover, is seems as though a 5 wave model is about to be completed. We have 3 waves printed on the screen. The proportion between the first one and the third one is 1.3333, while the second one is 61.8% from the first one. The fourth wave will be completed somewhere at $30.60. So, if the price breaks below 5 and 8EMA`s it might hit my target. What do you think? I will appreciate if you answer me.

 

 

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