AMBA Price Prediction Next Week
Analysis and Insights
Technical Analysis:
Ambarella (AMBA) is currently trading at $55.69 as of the latest data. The stock has shown signs of overselling, with an RSI of 37.13, indicating potential exhaustion of selling pressure. The MACD is currently at -4.91, suggesting bearish momentum, but the MACD histogram shows a slight upward trend, hinting at a possible reversal.
News and Sentiment Analysis:
Recent news indicates that Ambarella's stock dropped 8.5% on Thursday, underperforming other ETFs. However, the company's Q4 earnings showed impressive revenue growth of 63% year-over-year, driven by strong demand for edge AI applications. Analysts remain bullish, with a 12-month price target of $95, suggesting significant upside potential.
Fibonacci Levels:
The Fibonacci levels for AMBA suggest key support and resistance levels. The pivot point is at $52.45, with resistance levels at $55.88 and $58.00, and support levels at $49.02 and $46.90.
Conclusion:
Based on the oversold RSI, strong earnings report, and bullish analyst sentiment, Ambarella's stock is likely to experience a rebound. The stock is expected to rise to $58.50 in the next trading week. This represents a buy opportunity as the stock is undervalued and has strong growth potential.
AMBA Similar Chart Price Prediction
The price of AMBA is predicted to go up -27.18%, based on the high correlation periods with CIEN. The similarity of these two price pattern on the periods is 99.09%.
AMBA
CIEN
Down: -27.18%Similarity: 99.09%
AMBA Revenue Forecast
AMBA EPS Forecast
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AMBA Analyst's Forecast
Tore Svanberg
Stifel
Strong Buy
2024-11-27
Price Target
$80 → $95
Upside
+32.16%
Stifel raised the firm's price target on Ambarella to $95 from $80 and keeps a Buy rating on the shares following what the firm calls "another solid beat-and-raise" report in Q3. The firm, which is "impressed" by Ambarella's third consecutive guidance raise, believes the company continues to execute on its CV product family pipeline, further driving its positioning as "a leading player in the growing AI at the Edge ecosystem," the analyst added.
Joseph Moore
Morgan Stanley
Buy
2024-11-27
Price Target
$73 → $90
Upside
+25.21%
Richard Shannon
Craig-Hallum
Strong Buy
2024-11-27
Price Target
$85 → $90
Upside
+25.21%
