3SOF

Another touch on support and another coming back from GIGM, this time with volume above average.

I see now that after all the earnings release won't be today, but tomorrow, please read here:

GigaMedia: Earnings Release Rescheduled Due to Severe Typhoon

No problem with this, holding the stock through the earnings release.

gigm's moving UP now. 10am.
tomorrow is earnings.
good luck to all.

QuoteGIGM opened at 2.46, went down to 2.34 and held at the bottom of the falling wedge, then came right back up and closed at 2.45, poised for a pattern breakout.  Volume also improved over Friday's selloff, which is good.

GIGM printed 2.50, so we've gotten the technical breakout.  Volume is unexciting, but that doesn't concern me.  This is a breakout of an 8-day bullish continuation pattern (Bullish Falling Wedge), not a major pattern breakout.

QuoteThe top of the wedge is sloping down, so the pattern breakout for today is lowered to "a print of 2.50."      We would like to see it trade there, then head higher toward the two bullish pattern targets (2.95 - 3.11)  on increasing volume.

Now that we've gotten the Bullish Falling Wedge breakout, if the company can manage to report earnings tomorrow that aren't disappointing,  GIGM is poised to rally on volume to the two bullish pattern targets (2.95 - 3.11), which I'd expect to see by the end of the week.

GIGM currently is 2.55 BID...2.57 ASK

it looks like that G pattern that eliteG drew the other day in the elite infinite compound board.

up down then up higher.

$2.65 now

Quote from: Rocket8 on July 19, 2005, 01:37:45 PM
it looks like that G pattern that eliteG drew the other day in the elite infinite compound board.

up down then up higher.

$2.65 now

It looks like players are jumping in on this second bullish technical breakout, anticipating that the company won't disappoint them with earnings tomorrow.  They'd better not! 

Sure would be nice if we get a positive earnings surprise 

Quote from: Rocket8 on July 19, 2005, 01:37:45 PM
it looks like that G pattern that eliteG drew the other day in the elite infinite compound board.

up down then up higher.

$2.65 now

The pattern is very similar, but I believe EliteG had said that the decline mustn't drop below the base of the first high-volume white candle. Also, I think the flat trail leading to the breakout does not lead right up to the white candle. The chart ascends first, then the white candle....

Be interested to get Elite's opinion. It this is in fact the infamous G-pattern, then presumably the entry is about $2.50!

Cross your fingers! 

Quote from: Melf Elf on July 19, 2005, 01:49:49 PM
It looks like players are jumping in on this second bullish technical breakout, anticipating that the company won't disappoint them with earnings tomorrow.  They'd better not! 

Sure would be nice if we get a positive earnings surprise 

Melf,

It could also be that the Earnings have been leaked. After all they should have been released today.

Just a thought - we will see tomorrow!

i was talking about the intraday chart.  not the chart.
it looked like eliteG's pattern G.

now at 2.70. wow

i think the taiwanese would not leak anything. 
this new management appears to me to be very serious and tight.
i think they are very good.

Quote from: Michael on July 19, 2005, 03:42:03 PM
[
Melf,

It could also be that the Earnings have been leaked. After all they should have been released today.

Just a thought - we will see tomorrow!

Could be, Michael, but the buying certainly is warranted. The two bullish continuation pattern breakouts that I've been discussing are only short-term patterns that need to be viewed within the context of the larger two-year pattern breakout of June 13, which was VERY bullish.

Could be exciting tomorrow if the company doesn't disappoint.  The chart patterns certainly are there for a nice rally.

Today is GIGM's 1st Conference Call.
Good Luck To ALL

Hoping for $.03 EPS and for GIGM to rise.

Results are out: GigaMedia: Fourth Consecutive Quarter of Profit

I don't know, they don't seem very good, with a sequential quarter on quarter fall in revenues and earnings. Yet the company says good things about the future.

Well, I'm much more of a technical analyst than a financial analyst, so I'll do what the chart tells me to do, and that is: «hold as long as the stock closes above the ascending trendline», which today will stand at $2.45.

David,

Will you sell intraday if it falls under 2.45$?

Ohad

No OhadOnFire, I never take into account what happens intraday. Only a close below $2.45 tells me to sell at the next opening.

This strategy makes me no use of watching the intraday quotes and it saves me from a lot of technical noise and false signals.

Going down in pre-market. 

anyone watching this? Yikes!