Good Time to Buy Mobileye?
Let’s talk about Mobileye (NYSE:MBLY).
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.