Applied Optoelectronics is Setting Up for a Big Move By StockNews


Applied Optoelectronics is Setting Up for a Big Move

Applied Optoelectronics, Inc. (NASDAQ:) is trading within a range and at some point will break it’s resistance or support level.Applied Optoelectronics, Inc. (AAOI) engages in the design and manufacture of optical communications products. Its products include optical devices, such as laser diodes, photodiodes, related modules and circuitry, and equipment for applications in fiber-to-the-home, cable television, point to point communications and wireless.

Take a look at the 1-year chart of AAOI below with added notations:

AAOI has fallen into a large trading range over the past few months. While in the range, the stock has formed a resistance area at $9 (red), and a level of support at $7 (green). AAOI is headed back towards the middle of the range, but at some point, the stock will have to either break the resistance or the support.

Continue reading on StockNews

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.