Speculative Growth Stock Could Rocket Another 30% Higher

by Sam Collins | June 16, 2014 1:06 am

Pixelworks (PXLW[1]) — This company designs, develops and markets video and pixel-processing semiconductors and software for high-end digital video applications. On May 8, it reported a Q1 loss of $0.04, beating analysts’ estimates of a $0.07 loss. Revenues of $13.5 million also topped estimates of $13.1 million. Consensus estimates are for earnings of $0.14 per share in 2014 and $0.44 in 2015.

I first covered this speculative small-cap growth stock on Feb. 20[2], when it was trading near $5, based on positive technical analysis from our Profit Scanner[3] tool. The stock popped to a multiyear high of $9.05 on March 6, but then succumbed to high-volume profit-taking and retreated to $4.68 in early May.

PXLW is now under accumulation. It closed the huge gap opened in March — a positive — and reversed from its 200-day moving average on May 8. Since my latest recommendation on May 16[4], the stock has run almost 34%.

PXLW should be bought under $8 with a trading target of $10. This is a highly speculative investment that may not be suitable for investors with limited resources.

PXLW Chart
Click to Enlarge

Chart Key[5]

  1. PXLW: /stock-quotes/PXLW-stock-quote/
  2. on Feb. 20: https://investorplace.com/2014/02/trade-day-pixelworks-pxlw/
  3. Profit Scanner: https://order.investorplace.com/index.jsp?sid=DU8101
  4. my latest recommendation on May 16: https://investorplace.com/2014/05/pixelworks-pxlw-stock-trade/
  5. [Image]: https://investorplace.com/wp-content/uploads/2013/05/chart-key.gif

Source URL: https://investorplace.com/2014/06/trade-day-pixelworks-pxlw-4/
Short URL: http://invstplc.com/1y6mEYt