RSI: now shows Oversold

[christopher]

www.thestreet.com/story/13303666/1/rsi-alert-applied-micro-circuits-amcc-now-oversold.html

with a RSI number hitting below 30 now puts AMCC in an oversold position. Just in time to match up with the possibility of a very good Q2 earnings to be released within the month. Also, AMCC is having a "in house press conference" on October 14. This is very interesting and may be the possible  release of the new X-Gene 3. All of this could help drive the share price higher possibly, maybe?? hopefully???

[Admin]

I think you called it. I think that because AMCC is a supplier of chips to the capital equipment makers that the share price is very sensitive to the macro environment.

That being said... I also think that AMCC might be the current low-cost supplier given the total cost of ownership, which might argue for a good top-line showing even in a down economy.