Adesto Technologies $IOTS is in blue sky territory and looks poised to move higher. The stock peaked on the first week it came public 10/30/2015, the stock took a nosedive after the offering getting as low as $1.60 per share, it has since made a comeback, and the chart is looking very constructive. The stock has built an 8-month cup and handle, with some decent accumulation days within that timeframe. Months of sideways action is exactly what you want to see after a stock has made such a huge move, a digestion period before its next move higher.

The stock is in blue sky territory. From a trade perspective, a move under $8 will get me out of the stock.

CLICK TO ENLARGE

The above chart is from MarketSmith; it gives you some necessary fundamental information, news, fund ownership, industry and sector data, and a quick profile of the company. #IBDPartner 3-week trial promotion;

This information is issued solely for informational and educational purposes and does not constitute an offer to sell or a solicitation of an offer to buy securities. None of the information contained in this blog constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable for any specific person. From time to time, the content creator or its affiliates may hold positions or other interests in securities mentioned in this blog. The stocks presented are not to be considered a recommendation to buy any stock. This material does not take into account your particular investment objectives. Investors should consult their own financial or investment adviser before trading or acting upon any information provided. Past performance is not indicative of future results.