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ARM Holding ($ARMH): Kumo Support. Base Forming

ARM Holding ($ARMH) is one of the stocks that is riding on top of the smartphones and tablets wave.

We can see from the Ichimoku chart how the $ARMH has rallied from $13 to around $30 in less than a year.

With the general market moving down, $ARMH did not move down a lot and seems to be consolidating at around $28, which is where the kumo support is.

I believe, the current price level, provides a good entry given the price consolidation. A stop lost near this level will reduce possible risk.

Given the continuous growth for smartphones and tablets for the next few years, $ARMH seems to be well positioned for more growth.