Sometimes, it’s all about the chart: AMKR

Editor — Tue, 03 Nov 2009 13:50:47 +0000

I’m not sure why AMKR has dropped so far, so fast. It appears, on its face, that the company is doing the right things and the news has been mostly good. Doesn’t matter…persistent selling has knocked off 50% of the company stock price since its most recent high.

Here is the chart, so you can see what I am talking about:

It is a large company (definitely not a penny stock) that is involved in the semiconductor business and has had some “choppy” financial results lately. What I mean by that is that it has posted both losses and profits on different quarters in 2009. The balance sheet is reasonably strong….good cash and liquidity ratios although debt is high (over $1.5 Billion). Nothing to worry about there.

Why the drop? I took a quick peek and couldn’t find anything. I will do further research later, but for now I wanted to bring this company to my readers attention. I think that it has a very attractive chart, is sitting on or near strong support, it is in an industry (semiconductors) that seems to be getting “off the mat” and has the financial strength to weather this financial storm we are in.

It did bounce off support yesterday….I would suggest watching to see if it re-touches support or continues its bounce.

Enjoy your day in the market!

MicroStockProfit » semiconductor

Sometimes, it’s all about the chart: AMKR