NEW STOCK CHART BREAKDOWN - Silicon Motion Tech (SIMO)

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DISCLAIMER: This chart is based on this date. I'm not suggesting a move up or down. I'm showing a chart I'm watching. I'm not recommending this stock as a purchase. Think of it like this, your showing the world thru my eyes and how I see this chart. Period!
CHART OF THE WEEK
Silicon Motion Tech	SIMO		LAST TRADE >	$43.04
See Current Stock Price-SIMO			POSTED ON	6/12/2020
See the World thru my eyes' - Chart Breakdown of the Week
Silicon Motion Technology Corporation (SIMO) hits my radar because it hits the TOP30 Small Cap CPT Dashboard list of the top performing small cap stocks right now ... and looking at the chart indicators, financials and basically researching what the company does ... I thought I'd do a Stock Chart Breakdown so we can look at it and keep track of it for the next 30 days ... plus a nice 30 day, OTM trade would return +8% should our shares be taken ... Here's a breakdown of what SIMO does ... together with its subsidiaries, designs, develops, and markets NAND flash controllers for solid state storage devices worldwide. It offers NAND flash controllers for managing NAND flash used in embedded storage, such as embedded multimediacard (eMMC) devices and solid-state drive (SSDs); and expandable storage, which includes flash memory cards and USB flash drives. The company also provides customized enterprise-grade SSD solutions for hyperscalers' data centers; and customized SSD solutions for industrial ... Sector: Technology > Industry: Semiconductors > Silicon Motion Technology Corporation was founded in 1995 and is based in Kowloon, Hong Kong.
RSI	SMA (100)	SMA (200)	KELT MID	OBV TREND
43.79	42.24	41.6	44.98	TRENDING HIGHER
CLICK IMAGE TO SEE IT LARGER IN ITS OWN BROWSER WINDOW

What's the RSI telling me?
RSI - 30/40 repersents a stock that is starting to show signs of being Over Sold and I would be looking to pick up some shares at a price discount
Support Lines
SMA - When looking for a 'Low Entry' purchase we would love to BUY near the 100 day or 200 day support line. Its not 100% but its a 'Buy Low' situation vs 'Buying High'
Resistance Line (What Wall Street considers its Top of the Chart near term movement)
CPT - because were not trading higher this is not testing resistance lines ... so this indicator is not a factor in my decision whether I make a purchase in AMD right now. I would click the link to see where it is trading just for reference :)				See Support-SIMO
Keltner Channel Breakdown
KC - The stock has just traded UNDER the KC MID line
CPT - Notice evertime its trades near the KC MID the stock pops higher ... its a trend to keep an eye on as it dances on that KC MID line.
On Balance Volume or buying momentum ... is it trending Up?
OBV - The 'On Balance Volume' trend line is UP which tells technical traders that the stock has good momentum or in straight talk, people are BUYING IT. This is a 'Green' checkmark for me.
CPT - That OBV line is nice and is displaying a positive momentum indicator ... means people are buying it.
Further research with - Using charts for technical analysis, Dividend information and Earnings Report Date
RSI, SUPPORT LINES		KELTNER, OBV
View Chart-SIMO		View Chart-SIMO
Is this a good company for Writing Covered Calls? ONLY you can be the judge of that :)
Looking at a 30 day window using just (1) deviation out ...
Current Price	Strike Price	~Prem	30 day return	Expiration
$43.04	$45.00	$1.70	8.50%	7/17/2020
Check this stocks options here >		https://finance.yahoo.com/quote/SIMO/options?p=SIMO
Definition of the various charting indicators I use
RSI - The Relative Strength Index (RSI), developed by J. Welles Wilder, is a momentum oscillator that measures the speed and change of price movements. The RSI oscillates between zero and 100. Traditionally the RSI is considered overbought when above 70 and oversold when below 30. Source - https://www.investopedia.com/terms/r/rsi.asp
SMA (100/200) - A simple moving average (SMA) is an arithmetic moving average calculated by adding recent closing prices and then dividing that by the number of time periods in the calculation average. ... Short-term averages respond quickly to changes in the price of the underlying, while long-term averages are slow to react. Source - https://www.investopedia.com/terms/s/sma.asp
KC - The Keltner Channel is a moving average band indicator whose upper and lower bands adapt to changes in volatility by using the average true range. The Keltner Channel is used to signal possible price breakouts, show trend, and give overbought and oversold readings. Source - https://www.investopedia.com/terms/k/keltnerchannel.asp
OBV - On-balance volume (OBV) is a technical trading momentum indicator that uses volume flow to predict changes in stock price. ... He believed that when volume increases sharply without a significant change in the stock's price, the price will eventually jump upward or fall downward. Source - https://www.investopedia.com/terms/o/onbalancevolume.asp
Disclaimer - No - at the time of this posting I do not have a position in this equity. I will not take a position in this equity for 3 days of this equity as to not front run for this equity.
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Be sure to catch up on all the other blog posts below
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https://cptdashboardchartblog.blogspot.com/2020/03/my-top-5-buy-hold-stocks-to-buy.html
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https://cptdashboardchartblog.blogspot.com/2020/03/chart-of-week-chevron-corp-cvx.html