Opinion on  TriQuint Semiconductor Inc. (TQNT)     Sector: Technology  >  Industry: Semiconductors
Added to TriQuint Semiconductor (TQNT) Position

Early this morning I added to my TriQuint Semiconductor (TQNT) position as I feel it significantly oversold. Wish me luck.

Over the past week, TriQuint Semiconductor (TQNT) appears to be tracing out a flat top triangle which could well be interpreted as a bullish pattern. Pring's KST indicator is just turning to bullish as well. With these indications and the current market shift toward a bullish sentiment, I feel confident TriQuint Semiconductor (TQNT) could advance quickly over the next week or two. Let's keep an eye on TriQuint Semiconductor next week and identify an exit point.



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About a week ago I mentioned TriQuint Semiconductor (TQNT) was formng a flat top triangle after holding near the channel bottom. Trading activity has been in a very narrow range over the past couple days, pressing the top of the triangle. I would not be surprised to see TriQuint Semiconductor (TQNT) advance and head for the upper channel boundary soon. Lucky for me I acquired a nice position over the past week.



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I might be too impatient at times, maybe like today when I noticed TriQuint Semiconductor (TQNT) was not really gaining in price like I had expected. Since when does a stock perform to my expectations anyway? Maybe I'm a bit nervous about the general market tone. Maybe I don't have a clue what is happening. But I do know closing a position with a small profit is better than waiting for a loss. So this morning, feeling the need to do something, I closed my position in TriQuint Semiconductor (TQNT) for a small gain. I'm thinking it will test the bottom of the channel and I can buy it back again then.



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