Despite printing a third-quarter earnings miss on Nov. 11, Array Technologies soared over 20 percent the following trading day after the company announced it will acquire STI Norland. The Canadian-based semiconductor technology company has also been propelled higher by the overall bullish semiconductor sector with stocks such as Advanced Micro Devices Inc. soaring 30 percent in November. The Array Technologies Chart After rising to a Nov. 15 high of $27.67, Array Technologies began a period of consolidation. Within the consolidation, the stock has settled into both a bull flag and a triple inside bar pattern. The bull flag pattern has been created between Nov. 10 and Wednesday with the pole formed between that date and Nov. 12 and the flag created between Nov. 15 and Tuesday. The measured move if the bull flag is recognized, calculated by adding the length of the pole as a percentage to the bottom of the flag is about …
You Ask, We Analyze: Why Array Technologies Stock Looks Set for New Highs
November 19, 2021
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