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Payne's Picks

Good Time to Buy Mobileye?

By Payne's PicksFOXBusiness

Mobileye shares a ‘buy’?

FBN’s Charles Payne, BTIG Chief Technical Strategist Katie Stockton, A&G Capital CIO Hilary Kramer, and Penn Financial Group founder Matt McCall on the outlook for Mobileye.

Let’s talk about Mobileye (NYSE:MBLY).

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Most of you guys probably know this company by now, although it's relatively new to trading. If you have a rear-view camera, if you have the side sensors you know the technology -- and of course there's the giant race in the world to have a driverless car.

You can see from that chart the stock has been down as of late, although it's up pretty significantly -- I think from the IPO. Wednesday it had a great session, after a deal with a company called Valeo.

I think one of the reasons it's down is really unfair. There's all this talk about competition, low barriers to entries. No one’s got what they got. I think it's going to grow to two, three times the size of all of its rivals in the next five years.

So down here, I love the action. Traded twice its average daily volume. If you have been wanting to pick it up, I'd like it to close above $40. I think your next resistance $44, $45 ... ultimately $55. Hang on through the volatility.

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