Toward the end of May, our long term (12-month) target for BAW was reached. Since then, the stock has retraced, overshooting the incline support however trading within the 50/61.8% Fibonacci Retracement . Note, the RSI is breaking up before the stock – that’s constructive. In addition, we note a same-day reclaim of the 8/21 EMA .
Initial position at the current levels (10416c) or better, adding above 10575c
Target Range: 11200c to 11500c