I have been saying for a while now that ARM has $2.00 written all over it.. The announcement on Monday was significant IMHO, though the market seemed to take a while to digest it.
with 17,347,222 shares and options listed and unlisted available, the market cap is still undervalued IMHO giving the potential ARM has to offer. At $2.00 per share, the market cap would still be just $234M. Comparing it to some other juniors in itself justifies a complete re rating.
Volume today was very nice, which saw a breakout into blue sky. If you look at the chart below, you can see the technical signals which were triggered today which saw the break out.
Short term target around $1.20-$1.25...
PS:: please excuse a few lines on the chart from a while back.
ARM Price at posting:
$1.05 Sentiment: LT Buy Disclosure: Held
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