Tower Semiconductor ramps up SiPho capacity ahead of Q2 results: Wedbush
Wedbush forecasts that Tower Semiconductor's SiPho (silicon photonics) production capacity is expanding ahead of its second-quarter earnings announcement.
In the recent earnings announcement on August 4, it was reported that both revenue and profit exceeded expectations. Additionally, the closing price on August 7 was 249.99, showing an increase compared to the previous day's closing price, indicating a strong trend that warrants consideration for entry.
If the stock price reaches $225.0, I will take profits, and if it falls to $210.0, I will cut losses. Each price is based on the REPORTING output.
The RSI(14) is at a very low level of 21.3.
The forecasted return was 2.5%, but the actual return was 13.6%, significantly exceeding the target price. The strong performance and expansion of production capacity have been well reflected in the stock price.
We have observed a strong momentum in the oversold range (RSI 21.3) based on technical indicators. However, when setting target prices, it is important to consider the strength of the trend rather than relying solely on numerical values, in order to devise a strategy for maximizing profits.