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MichaelGLamothe

AMBA approaching short term resistance at 70

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Ambarella, Inc. (NASDAQ:AMBA)  
MichaelGLamothe  
NASDAQ:AMBA   Ambarella, Inc.
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AMBA is testing the $70 level again today. Since reporting earnings on 9/1 it has spent the month consolidating and finding support along the 50dma. It broke above a descending trend line this morning and is now contending with resistance at 70.

Continue to watch support around the 50dma. AMBA has yet to trade below the 50dma since early June.
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