Keep an eye on oversold shares of Lattice Semiconductor (LSCC).
For one, it’s over-extended on RSI, MACD and Williams’ %R. Two, the last time it became this oversold using those indicators, the LSCC stock bounced from about $52 to a high of $85.
Helping, Raymond James just upgraded the stock to an outperform rating with a price target of $50 a share, noting: ““Like its peers, LSCC is facing post-pandemic cyclical headwinds, which are nearing an end. Looking ahead, the company stands to benefit from cyclical recovery, ongoing content gains in servers, and new product ramps,” as quoted by CNBC.
From its last traded price of $41.78, we’re looking for an initial retest of $50.