Mobileye N.V. (NYSE: MBLY)
MBLY received an upgrade and also an increased rating this morning out of Robert W. Baird. Analysts at R.W. Baird boosted their rating from “neutral” to “outperform” in a report released today. The firm also increased their price target to $73 from $47, the street high.
The daily chart on MBLY presents a great opportunity for a long trade due to the daily trigger points and its reputation as an extreme momentum stock. The daily trigger points in play are at $58.50 on October 9th 2014, and $60.28 on October 3rd 2014. Once the price action can reclaim these critical levels, it is on to blue sky territory.
Since MBLY had such a great daily chart, a strong note out from R.W. Baird, and momentum at its back, I initiated a long trade at $56.50 as the volume began to spike in anticipation of a strong move higher through the daily triggers. I sold half my position through the $57 break at $57.20, more at 57.40, and then sold the balance when the market weakened and MBLY came back down through $57. If the market indices remained strong into the morning session, MBLY was the best opportunity for a very calculated, profitable trade.
About Mobileye N.V.
Mobileye N.V., together with its subsidiaries, designs and develops software and related technologies for camera-based advanced driver assistance systems primarily in Israel. It operates through two segments, Original Equipment Manufacturing and After Market. The company offers proprietary software algorithms and EyeQ chips that perform detailed interpretations of the visual field to anticipate possible collisions with other vehicles, pedestrians, cyclists, animals, debris, and other obstacles; and detect roadway markings, such as lanes, road boundaries, barriers, and related items, as well as identify and read traffic signs and traffic lights. It serves original equipment manufacturers, tier 1 system integrators, fleets and fleet management systems providers, insurance companies, leasing companies, and others through distributors and resellers. Mobileye N.V. was founded in 1999 and is headquartered in Jerusalem, Israel. Yahoo! Finance