When we look at AMBA's price action since 2016, we see a bullish market that had a significant correction between October and January. Then, we can see price action make a higher low and a higher high.AMBA Daily Chart(click to enlarge)Turning Bullish Again?- The price action since October 2016 was first bearish, then it turned more sideways. - Now it is turning bullish.- Now, price is anchoring above the 200- and 100-day simple moving averages (SMAs).- Also, the RSI is holding above 40 after it pushed above 70. This is showing maintenance of the bullish momentum since the start of 2017. - The most recent significant price action was the pivot off of 56.00 last week. This showed that bulls are still in charge. - I think this is a key support now and a break below 56 would open up further bearish correction, and invalidate our current bullish outlook.AMBA Weekly Chart(click to enlarge)Hype-Adoption Curve:- The price action since 2013 looks like Gartner Hype Curve, which describes an initial hype and the burst of bubble. - However, that doesn't mean the technology is useless, it just means better practices, legal matters, social matters come into play for the value of the company to grow in a sustainable way. - So far, price action since 2016 is suggesting that AMBA is following the Gartner hype curve, and should continue higher in 2017. I also didn't mention the June 6 after-hours earnings report. As I noted, if the reaction to the report is negative and price falls below 56, we have to put the bullish outlook on hold for further consolidation.Ambarella's (AMBA CEO Fermi Wang on Q1 2018 Results - Earnings Call Transcript (Seeking Alpha)After-Hours Earnings Report for June 6, 2017: KEYS, AMBA, NCS, BV (Nasdaq.com)Gartner Hype Curve:(click to enlarge)