by Sam Collins | August 13, 2013 1:23 am
TriQuint Semiconductor (TQNT) — This midcap company is a worldwide developer and supplier of high-performance gallium arsenide microwave monolithic integrated circuits for wireless operations.
Annual gross margins are expected to grow by 32% in 2013 and 36% in 2014, according to S&P. Earnings per share are projected to be $0.06 in 2013 and $0.55 in 2014. S&P’s 12-month target is $10.
Technically, TQNT’s initial breakout in late April was a picture-perfect break from a double-top. The continuation gap from $6.46 to $7.48, following a consolidation, was technically sound as well. Monday’s low at $7.41 partially filled that gap before the stock reversed up on a minor buy signal from our proprietary indicator, the Collins-Bollinger Reversal (CBR).
Since MACD is on a sell signal, the stock may pull back to under $7.50 where it should be bought for a trade to $10.
Source URL: http://investorplace.com/2013/08/trade-of-the-day-triquent-semiconductor-tqnt/
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