$CY (Cypress Semiconductor - NASDAQ) has spent the past 2 and a half months forming a bottom between 9.02 and 9.44 support and resistance areas. Now volume is picking up as it tries to breakout into higher prices. StockConsultant provides detailed analysis and charts below.
- CONFIRMED breakout above 9.59, no resistance in area just above.
- Type: True breakout from double resistance.
- Target: 10.29, 6.4% Stop: 9.4, Loss: 2.8%, Profit/Loss ratio: 2.3 : 1 - Good
Source: CY at StockConsultant
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.