Amkor Technology, Inc. provides outsourced semiconductor packaging and test services in the United States, China, Ireland, Japan, Singapore, Taiwan, Thailand, and internationally. The company offers turnkey packaging and test services, including semiconductor wafer bumps, wafer probes, wafer backgrinds, package design, packaging, and test and drop shipment services. Its packages employ wirebond, flip chip, and copper clip interconnect technologies; and leadframe and substrate package carriers are used for various testing services.
Take a look at the 1-year chart of Amkor (NASDAQ: AMKR) with the added notations:
AMKR started a 5-month decline in March that reached a bottom in
June. After testing the June low a few times, the stock started a rally
that lasted about 3 months. Over the past month or so, the stock has
also created a key level of support at $6 (green) Now that the stock
appears to be testing that support level again, traders should be able
to expect some sort of bounce. However, if the $6 support were to break,
lower prices should follow.
The Tale of the Tape: AMKR has a key level of
support at $6. A trader could enter a long position at $6 with a stop
placed under the level. If the stock were to break below the support a
short position could be entered instead.