Chipmaker Vishay Intertechnology (NYSE:VSH) traded 8% higher on Tuesday morning, after reporting earnings that beat Wall Street expectations. The company reported earnings per share of $0.40 and total revenue of $717 million, compared to analyst estimates of $0.36 and $691 million. They also increased their dividend by 26% to $0.085 from $0.0675.
In analyzing the chart, we are less enthusiastic about the stock. VSH is currently trading in a resistance zone and is set to begin the declining phase of its current market cycle. We expect another pullback into late June near $18. If that holds, it may be an opportunity to buy. For an introduction to cycle analysis, check out our Stock Market Cycles video.
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Vishay Intertechnology Stock Chart with Weekly Bars