Silicon Motion Technology has recently broke-up its pivot point which confirm the short term upward tendancy.

Regarding fundamentals Silicon Motion Technology seems to be in a good shape. Indeed, sales are estimated in perpetual growth for the next two years. Due to good margins, the company is expected to get a good net income for 2014. (+62% compared to 2013). As all previous figures, the Earning per share should also increase by 59.2% in 2014.

Graphically, a good opportunity emerges. Prices have crossed their pivot point which will lead to USD 26.95 resistance. Moreover, prices are supported by all moving averages in weekly data.

According to both fundamentals and technical analysis, a good opportunity has emerged to get long on Silicon Motion Technology. The target will be the USD 26.95 level and a stop-loss order could be placed under the USD 25.18 pivot point.