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Stock impact report

Time to Target This Chip Stock After "Buy" Signal Flashes [Yahoo! Finance]

Arm Holdings plc - American Depositary Shares (ARM) 
Company Research Source: Yahoo! Finance
Arm Holdings PLC (NASDAQ:ARM) stock is up 2.8% to trade at $131.72 today. The chipmaker is building off yesterday's 3.5% pop that stemmed from a price-target hike from BofA Global Research to $140 from $135. Thanks to a 20% year-to-date gain and bounce off $100, the stock has cleared a key trendline with bullish implications. The trendline in question is Arm's 80-day moving average. Per Schaeffer's Senior Quantitative Analyst Rocky White, this “crossover” event has happened two other times during the last ten years, after which the stock was higher one month later both times, averaging an 5.7% pop in that timeframe. From its current perch, a similar move would have the shares testing a short-term ceiling at $140. ARM Stock Chart A short squeeze could also fuel tailwinds. Short interest fell 11.7% in the most recent reporting period, yet the 15.34 million shares sold short account for 11.2% of the stock's total available float. ARM has tended to outperform traders' volatility Show less Read more
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