Chart of the Day: Credo Gets the Call One More Time
It would be hard to find a better fit for the EPS Diplomats than this semiconductor company.
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The story is clear on Credo Technology (CRDO) . The company is printing money for shareholders as it plants a flag in their AI and data center business. Credo is here to stay and win, and by the looks of their earnings there is really no argument against it.
We have held Credo in two constitutions of the EPS Diplomats basket and the stock has had outstanding performance. This past week saw a huge breakout on heavy volume on news about some partnerships. The candles moved from teal to blue, so strong bullish on the GoNoGo composite of indicators.
All the other indicators are sporting bullish traits, so there does not seem to be an impediment for Credo to make it to the old highs at $213, which would be a nice profit objective from current levels ($160s).
As a member of the EPS Diplomats, Credo does not have a rating.
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At the time of publication, TheStreet Pro Portfolio was long CRDO.
