Chipmos Technologies (IMOS)

[eigh8or]

ChipMOS, IMOS posted an up day on Friday while the market was dropping. Also note a close near the days high, and afterhours shows the price moving even higher. Volume on the day was up from the previous day, and a strong PR during the day certainly helped to start the rally.

As for Monday I'm expecting more follow thru, with a push to it's past high of $8.99. Hopefully this time it won't drop back to $8 like it did recently. A break above $9, and maybe $9.50/$9.75 isn't that far off.

Also note that InvestmentHouse.com has IMOS as their technical play for the week.

STATUS: Testing the breakout. IMOS broke out of a long 21 month base in October, kicking off the rally to 8. After that initial surge it has moved laterally the past four weeks, building a nice lateral pattern showing 2 to 0 accumulaiton. Investors are using this nice lateral move as another point to build some positions. Friday it was up on strong volume, nearing the next breakout point. Ready to step in as it continues the move this week.
Volume: 941.974K Avg Volume: 368.272K
BUY POINT: $8.38 Volume=552K Target=$10.28 Stop=$7.52
POSITION: - Stock (no option chain).


As for my position, I currently own 600 @ $8.15. I had bought 500 early in the week @ $8.10 and sold @ $8.72. Then after IMOS dropped back to $7.20 I bought 600 @ $7.35. Friday I sold it @ $7.95, but bought it back near the close when I realized that instead of selling off, it held up extremely well, and should jump higher on Monday.

First post here on Investors hub

intimid8or