Arm has the strength to lift itself higher, says Marcus Bullus at www.mbcapital.co.uk.
A recent wobble in the share price has wrestled Arm down to its 50-day exponential moving (EMA) average, a level that provided a floor when last tested in October. The share is now the most oversold it has been in the past six months, and this is a dip worth buying. Buy, placing a stop-loss comfortably below the 50-day EMA, and then trailing the stop higher as Arm tests the recent high of 980p.
