Did I not mention in my previous article “Picture Perfect: Ambarella” that AMBA was in a “jinx” situation or possible sentiment trap? It appears the cash cow is dying. Yes, it was up over 8% today, but it was down nearly 20% yesterday. Carl and I discussed the charts of Ambarella yesterday morning when the waterfall correction was in full swing. It appears we have a textbook parabolic breakdown. Look at the weekly chart for Ambarella (AMBA) below. The parabolic formation is obvious.