Lattice Semiconductor (LSCC) is your Trade of the Week
One of the most important aspects of swing trading is the entry. The better the entry the more staying power you will have in a position trade. This week we are focused on a symbol that came thru the “Bullish Candlesticks” alert window here at Trade Ideas. This symbol stood out for the main reason of it being a low risk entry that may have washed the inpatient hands out by now.
Lattice Semiconductor (LSCC) shows up as a closing price Doji candle but it has a lot more than just that going for it. We have a gap fill on a daily chart that is in an uptrend. We even have a double test of this base last Friday just to make sure. We have an oversold sector in semiconductors that looks to provide a nice backdrop for a rotation back into this sector.
The game plan is already lined up on the Trade Ideas Daily chart for (LSCC). The suggested buy point is indicated by the red resistance. We will call the official Trade of the Week buy point at 6.50 on LSCC. The suggested exit will be the “swing exit” dashed red line below at 5.92. The upside target for this idea will be 8.00. So risking 58 cents to make 1.50 is the goal here.