Peraso Inc. (NASDAQ: PRSO) has captured the market’s attention with a significant surge in trading volume on Wednesday, September 25, 2024. The stock's volume spiked to 2.56x its average, signaling robust investor activity and growing confidence in PRSO. This breakout from its 50-day moving average has sparked excitement among technical analysts, signaling an improved intermediate-term outlook for the stock.

In addition to surpassing this key technical threshold, PRSO has also formed a bullish hammer candlestick pattern—a promising indicator of an impending upside reversal. Growth-focused investors should take note: PRSO is well-positioned for a potential upward move. A confirmed breakout above the hammer’s high could lead to substantial gains, making PRSO a compelling stock for those looking to capitalize on its current momentum.

In today's market, where technical setups play a crucial role in maximizing portfolio returns, PRSO stands out as an exceptional growth opportunity for those seeking to harness the power of evolving market trends.

Other Breakout Stocks to Watch: Alongside PRSO, here are four other stocks exhibiting bullish technical alerts and are worth adding to your watchlist:

• Fangdd Network Group Ltd. (NASDAQ: DUO): Breaking out of a consolidation phase with strong upward momentum.
• Pasithea Therapeutics Corp. (NASDAQ: KTTA): Demonstrating key bullish technical patterns and continued positive momentum.
• Telesis Bio Inc. (NASDAQ: TBIO): Forming critical reversal patterns, suggesting further gains ahead.
• Gaotu Techedu Inc. (NASDAQ: GOTU): Trading with increased volume and breaking key resistance levels, signaling a potential upward surge.

Exciting Growth Catalysts Peraso Inc. (NASDAQ: PRSO): recently announced a significant expansion into Asian markets, coupled with securing a major U.S. military contract. These milestones underscore the company’s growing market presence. Following these developments, Benchmark issued a “Buy” rating with a $4 price target, citing the validation of Peraso’s mmWave technology in a highly demanding market. The firm anticipates broader adoption of Peraso’s solutions across both military and commercial sectors, forecasting strong growth opportunities ahead.

The $4 price target is based on FY25 revenue estimates of $16.2 million, with 2.4 million shares outstanding. Benchmark also highlighted the potential of mmWave technology in the Fixed Wireless Access (FWA) sector, predicting this area will drive substantial long-term revenue growth for Peraso. Read entire report.

Investors should strongly consider adding these breakout stocks to their watchlists now. PRSO’s technical indicators are showing bullish signals, suggesting further upside potential, making future growth highly likely.

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