2024-07-12 08:25:07 ET
Summary
- The stock has rallied after hitting a new low in May, but the charts suggest the stock may be getting close to resistance.
- The bulls have bid up the stock price, but the bears have taken the opposite side of the trade based on growing short interest.
- ALGM is in a downturn, but the outlook and the latest Investor Presentation call for a speedy return to growth.
- What happens to ALGM is likely to be decided by what happens in the EV market, but there are conflicting signals there.
...
Read the full article on Seeking Alpha
For further details see:
Allegro MicroSystems: Why The Shorts Are Not Buying The Rally