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TRADE ALERT- Buy Diodes on Weakness- Stern Agee (DIOD)

According Stern Agee, you should buy Diodes (NASDAQ: DIOD) on any weakness. The company reported strong Q2 gross margins that should keep increasing. They have a “Buy” rating on the stock.

Today’s more than 3 percent move to the downside definitely counts as weakness. In the  past five days, the stock has lost 13 percent of its value after reporting earnings that disappointed the street. The stock now sits well below it’s 50 day moving average but should find support around $23. If it reaches that level, the charts would agree with Stern Agee.

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Diodes Incorporated, together with its subsidiaries, designs, manufactures, and supplies application specific standard products in the discrete, logic, and analog semiconductor markets primarily in Asia, North America, and Europe.

[stock-tools exchange="NASDAQ" symbol="DIOD" image_height="230" image_width="350"]

Disclosure: At the time of this writing, the author had no position in the company mentioned.

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