Bullish on ACMRIt seems it is bouncing perfectly from the .618Fib which coincidently matches the lower bollinger band right on the 200EMA. I mean, you have your confirmations right there, the only thing stopping it is volume from the resistance level at 91. Will it moon if it breaks that?... um doubt it since there's another wall at 104-106, however, tis will be the second attempt in a while to break it and the volume seems to be picking up!
ACMR
ACM RESEARCH INC 🧙ACM Research Inc is a US-based company. It is engaged in developing, manufacturing, selling single-wafer wet cleaning equipment, which is used by semiconductor manufacturers in numerous manufacturing steps to remove particles, contaminants, and other random defects to improve product yield, in fabricating advanced integrated circuits, or chips. The company offers space alternated phase shift which employs alternating phases of megasonic waves to deliver megasonic energy to flat and patterned wafer surfaces on a microscopic level; and Timely Energized Bubble Oscillation technology which provides effective, damage-free cleaning for both conventional two and three-dimensional patterned wafers at advanced process nodes. It markets and sells, lines of equipment under the brand name Ultra C.
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Flags. Pennants. Uptrends. Super performers. We like that right?See information on the company below
This stock broke out on the Weekly time frame, so it is a confirmed long (I went long on Thursday before the 3 day weekend and will add on weakness in the coming days). Stocks that breakout just before a three day weekend says a lot about the hands holding them.
Every breakout (BO) generated staggering performance from the BO point to its new all time high, as shown here:
There are several ways to formulate targets on price structures like this one:
1) Hold until the lows are breached (this is how a trade turns into an investment or a position trade, which is generally recommended for the non-active trader). Notice the previous lows were never breached in the uptrend since the company went public in 2017. The best performing stocks do not breach previous lows for a very long time. This is how the best returns are made for 99.x% of people.
2) Fib extensions... 1.618.
3) Apply a short term moving average and sell when price breaks below that average (look for one that makes sense to you). Here is an example of a 10 3DMA:
This worked very well to take profit in the prior breakouts while avoiding a consolidation period.
These are just a few. My plan is a combination of 1 and 3 with multiple layers of entries.
The company was private from 1998 - 2017. It already did a 10x since it went public on November 2017. If you take a look at its website, you'd never guess a company like this could perform so well. www.acmrcsh.com
I've attached their investor presentation here if you want to learn more: ir.acmrcsh.com