HEAR: Are Shares of Turtle Beach Corp. Ready to Breakout? - StockNews.com

sulionjaka.blogspot.com

HEAR – Shares of Turtle Beach Corp. (HEAR) have been trading in a sideways range for the past number of months, forming a rectangle pattern.

Get Free Updates

A rectangle pattern has formed in the chart of Turtle Beach Corp.  A rectangle is a pattern in which horizontal lines showing significant support and resistance exist. 

Turtle Beach Corp. (HEAR) is an audio and accessory brand offering a broad selection of gaming headsets for Xbox, PlayStation, and Nintendo consoles, as well as for PC, Mac, and mobile/tablet devices.

The company has been benefiting from an increase in video gaming due to the pandemic. In addition, Generation Z and the millennial generation prefer to play games against other people across the globe. HEAR’s affordable headsets allow gamers to talk with one another while they play.

The company should see a revenue jump in the coming months due to the launch of new game consoles from Sony (SNE) and Microsoft (MSFT). HEAR has a healthy balance sheet with no net debt as of the end of the last quarter, and a current ratio of 1.7.

HEAR has shown strong growth last year, with an increase in earnings of 27.9%, and a forecast of 25% for the next year. The stock is also trading in value territory with a P/E of 13.6 and an EV/EBITDA of 11.1.

The stock has shown strong momentum over the short, mid, and long term, which has resulted in a “Buy” rating in our POWR Ratings service. It holds a grade of “B” for Buy & Hold Grade, Peer Grade, and Industry Rank. More importantly, it has a grade of “A” for Trade Grade. Let’s take a look at the 1-year chart of HEAR below with added notations:

Chart of HEAR provided by TradingView

After Rallying over 400% off its March low, HEAR has moved into a large, sideways trading range. While in the range, the stock has formed a resistance level at $21 (red), and an important level of support at $16 (green).  Thus a rectangle pattern has been formed. 

At some point, the stock will break the $21 resistance or the $16 support.  The possible long position would be on a breakout above $21. The ideal short opportunity would be on a break below $16.

Keep a close on HEAR over the next couple of weeks, as the stock reports its latest quarterly results on October 27th.

Want to See My Favorite Stock Trades Today?

The process I use to select these “Chart of the Day” stocks is just the starting point for what I put in my private portfolio.

There I take a deeper dive into the stock market outlook. And determine which sectors are likely to outperform. Then and only then to do I pull the trigger on the most timely trades.

If you would like to be notified of my best trades, then just click on the link below to get started!

See Christian Tharp’s Top Stock Picks Now

Have a good trading day!

Christian Tharp, CMT

@cmtstockcoach

---

HEAR shares were trading at $18.89 per share on Thursday morning, down $0.12 (-0.63%). Year-to-date, HEAR has gained 99.89%, versus a 8.49% rise in the benchmark S&P 500 index during the same period.

About the Author: Christian Tharp, CMT

Christian is an expert stock market coach at the Adam Mesh Trading Group who has mentored more than 4,000 traders and investors. He is a professional technical analyst that is a certified Chartered Market Technician (CMT), which is a designation awarded by the CMT Association. Christian is also the author of the daily online newsletter Todays Big Stock. More...

More Resources for the Stocks in this Article

Get Free Updates

Join thousands of investors who get the latest news, insights and top rated picks from StockNews.com!

Most Popular Stories on StockNews.com

---

2020 Stock Market Bubble Part 2?

Recent market (SPY) action sure feels like the second coming of the stock market bubble we saw this summer. However, Tuesday’s sell off does show flashes of the typical pre-election price pattern. Which scenario wins out? Let’s discuss…

Oct 14, 2020 | 8:52am

---

---

DraftKings vs. Penn National Gaming: Which Stock is a Better Buy?

Sports have made a huge comeback after months-long hiatus. Although there have been a few hiccups, they’ve been able to keep playing through the pandemic with minimal disruptions. Another difference is that sports betting is becoming legalized and normalized across the country. Asa result, DraftKings (DKNG) and Penn National Gaming (PENN) are two of the hottest stocks in the market. But which one is the better buy now? Let’s take a look.

Oct 14, 2020 | 2:43pm

---

5 "Strong Buy" Stocks Under $10 to Own for 2021

United Micro Corporation (UMC), Wipro Limited (WIT), CimbaBay Therapeutics (CBAY), Pacific Ethanol (PEIX) and Surface Oncology (SURF) are five stocks, under $10, that are rated "Strong Buys" and should continue to see gains in 2021.

Oct 14, 2020 | 12:50pm

---

DraftKings vs. Penn National Gaming: Which Stock is a Better Buy?

Sports have made a huge comeback after months-long hiatus. Although there have been a few hiccups, they’ve been able to keep playing through the pandemic with minimal disruptions. Another difference is that sports betting is becoming legalized and normalized across the country. Asa result, DraftKings (DKNG) and Penn National Gaming (PENN) are two of the hottest stocks in the market. But which one is the better buy now? Let’s take a look.

Oct 14, 2020 | 2:43pm

Read More Stories

More Turtle Beach Corporation (HEAR) News View All

Event/Date	Symbol	News Detail	Start Price	End Price	Change	POWR Rating
Loading, please wait...

View All HEAR News

Let's block ads! (Why?)

"hear" - Google News
October 15, 2020 at 08:56PM
https://ift.tt/2T0Rr9W

HEAR: Are Shares of Turtle Beach Corp. Ready to Breakout? - StockNews.com
"hear" - Google News
https://ift.tt/2KTiH6k
https://ift.tt/2Wh3f9n

Bagikan Berita Ini