Xperi Corp’s Stock Chart Suggests at Least a 75% Rally

Xperia Stock Ideally Suited for the Tech Revolution

The technology sector has been pausing this year, but longer-term, there’s no other place I can think of that has as much potential.

And with the global economy in recovery, the prospects for growth in electronic applications are rising. Given this, now is the time to look at Xperi Corp (NASDAQ:XPER), a diversified tech company that’s involved in many areas.

The company offers solutions in high-growth areas such as vehicle vision, computational imaging, computer vision, mobile communications, memory, data storage, and 3D semiconductor interconnect and packaging.

While Xperi Corp appears to be a perfect fit for the technological revolution around us, XPER stock has failed to gain any sustained traction—but that could be changing.

Chart Signaling a Multi-Year Move for XPER Stock

A look at the long-term price chart of Xperi stock, going back to 2005, shows the indecisive trading and failure to break higher at the multi-year chart resistance around $35.00.

But a closer technical look at XPER stock shows that a potential rally could be in the works.

Xperi Corp’s stock chart displays a double-top pattern by Xperi stock. The first top at $35.00 occurred in 2005, which was followed by weakness and a second top in 2007. The stock failed to hold, subsequently declining in a major sell-off to around $10.00.

XPER stock drifted at the $10.00–$25.00 level for about a decade prior to staging a second double-top pattern toward $35.00 in 2015.

That move also failed to hold. Xperi stock retrenched prior to another rally toward $35.00 in 2017.

Chart courtesy of StockCharts.com

Similar to the previous double-top pattern, XPER stock again failed to hold and fell back toward the $10.00–$25.00 level, where Xperi stock is currently trading—and where I see a buying opportunity.

A closer look shows XPER stock displaying a golden cross pattern, which is a bullish technical signal that appears when the 50-day moving average crosses above the 200-day moving average.

Chart courtesy of StockCharts.com

Analyst Take

Based on Xperi Corp’s stock chart, my technical view is bullish.

Just like the previous two major multi-year double tops, I wouldn’t be surprised to see Xperi stock stage another attempt toward $35.00 on the horizon.

But this time around, the hope is that XPER stock will break through the multi-year resistance at $35.00. This would imply a potential upward move of 75% from the current level.