Mobileye N.V. (NASDAQ: MBLY)
Mobileye N.V. (MBLY), a company that develops software, vision and data analysis for Advanced Driver Assistance Systems yesterday announced a new mapping technology development called Road Experience Management (REM). Additionally Mobileye announced a new strategic partnership with Volkswagen to integrate the REM technology in their fleet of cars. Mobileye is already partnered with General Motors in integrating the REM technology with their cars.
Mobileye N.V. Chief Technology Officer’s Comments
“We leveraged advanced artificial intelligence, used for creating environmental models from camera input, in order to create maps based on local coordinate systems while requiring very low bandwidth,” stated Prof. Amnon Shashua, co-founder, chairman and Chief Technology Officer of Mobileye. “The low bandwidth of the model, and the fact that it requires only a camera, which is already available in most new car models as part of the trend towards growing driver assistance deployment, enables the map creation and update to be managed by a cooperative crowd sourcing mechanism.” PR Newswire
MBLY Technical Analysis
MBLY gapped up in price yesterday to $38.52, up from the prior day’s close of $36.13, which is a 7% increase on favorable news. Taking a look at the daily chart, we can see the last time MBLY traded above this price level was on January 4th when it traded at $39.94. Taking a closer look at the daily chart we can see that MBLY is on an overall decline dating back to August 17th when it was trading at its 52 week high price of $64.48. MBLY is currently trading near its 52 week low price of $32.41, so there is a lot of room for growth for any up move. I would be looking at $42 as a possible resistance price for this move up as it was last reached in late December before the latest spike down in price. MBLY has a float of 165.64 million shares and is trading 1.5 times the normal daily trading volume. MBLY did reach premarket highs of $38.99, but gave back $0.47 at the open, equivalent to 1%. For trading purposes my entry point would have been $38.60 looking for a run through $39. My stop loss would have been $38.40, fearing anything below that and the stock would start to fill in the gap up.
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