STM has broken above key technical resistance (50-day MA) and is poised for a potential move to $59; the speaker views the current setup favorably.

Your last question, Mike, to be honest, I haven't talked much about STM stock, STMicroelectronics. So, explain to me what you think about STM.

Yes, as you know, this arrow has appeared in my survey programs over the past few days. To be honest, I'm not fully familiar with it or trade in it much, but I'm very impressed with the current situation.

We have reached a resistance level at the 50-day moving average. I use simple moving averages on my long-term charts. We have surpassed that level, and we are now maintaining it.

So, I am now looking for that secondary movement. Above 53.55, and I think we've already surpassed it this morning. We backed away from it, so we still have a chance to reach it.

If we break through this level, we will target an execution price of 59. Okay, October. The execution price of 59 for October is shown here for the STM buy option in this column chart.

Rick, as you can see here, is level 59 special to you? Well, I highlighted the 57 level specifically, and the reason is that after the profit gap narrowed on July 23, that was the highest point we recorded shortly afterward .

Then, after the pullback, you can see that our red line was at the 57 level. Then, at the 48 level, our green line, which is the lowest level after the previous upward earnings gap in April.

We identified a price range at that time, and we maintained this low level several times near 48. We have not yet broken above the 57 level, despite testing it several times in early August.

But what I would like to say is that the blue trend line, which was active before today, seems to have been surpassed by us now. It appears that the upward white trend line is the prevailing trend at the moment if this upward movement continues.

Note also that 65 is approximately the level of the last gap. Another high comes at 76. As for the downside, the range of 48 to 45 is the level of the previous profit gap I mentioned.

Another gap started just before that at 42. So, we note that the 63-day exponential moving average , which represents a quarter of gold, is the most relevant to today's trading activity.

The price is 54.15, which is almost the highest level we reached today, and we saw a slight pullback. We also note that the five-day exponential moving average and the 21-day exponential moving average, which represent a week and a month of trading activity, are almost in line at around 51.50 to 52.

They are also in line with the trend line, indicating a possible breakout point to watch. The Relative Strength Index (RSI), a measure of momentum, is trending upwards , and we are above the midline at 50.

However, we have yet to record new relative highs above our previous peak . Therefore, bullish speculators will want to see this to gain clarity on the prospects for a continued upward trend.

Finally, regarding trading volume, the range of 49 to 54 is the important range in which we are located . Trading volume starts to decrease noticeably when it exceeds approximately 57, so we may see rapid price movements in this range.

From 69 to 72 is the next point we must climb to.

And Mike, the price of 57 is right in the middle of the vertical buy line here. So, tell me about the other execution price you are looking at here, and what the maximum risk and maximum return are.

Typically, as you know, I look at the chart and, more importantly, I look at the implied volatility. Therefore, I can obtain the expected movement. This coincided with a move of one standard deviation down to the strike price of 59.

So, you know, I see what Rick said about the price of 57. I think we'll get past that if we start this process. That's why I chose 569. Well, here's 569 again with an expiry date of October 16th.

They will not receive their profits until October 29th. Therefore, there are no risks related to earnings events with STMicroelectronics, which rose by half a percent during the session.