Semiconductor stock near breakout

Semtech Corp designs analog and mixed-signal ICs used in mobile phones, computers, telecom networks

The price is near 52-week highs 2 years after it gapped down for a -27% loss

Is showing volatility contraction as is forming a big cup & handle with pivot buy around $49

The relative strength ratio with SMH is also near breaking out and the IBD RS rating is 97, confirming that the stock is a market leader

IBD Quote [research.investors.com/stock-quotes/nasdaq-semtech-smtc.htm]