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.


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;