Looks like a double topLooks like a double top. Looking for support at $76 or it's going to go lower.
1COHR trade ideas
Rapid Accumulation Pattern: COHRNYSE:COHR rebounded upward from a strong support level due to Rapid Accumulation by Derivative Developers. The company had a good earnings report on August 15th. This is NOT an all-time high. A shift to a platform or sideways trend would be ideal to reset for the next swing-style run. Chaikin Osc is overextended and floating as oscillators tend to do. Sideways trends pattern that out rather quickly most of the time.
Coherent has reached a new milestoneThis week, the laser systems and semiconductor technology company Coherent Inc. marked a significant milestone in laser transceiver production at its Malaysia plant. The company is one of the world's largest manufacturers of critical parts for fibre optic networks. Sales of Coherent solutions may surge amid the large-scale construction of new data centres for artificial intelligence (AI) computing.
Coherent's recent achievement of producing its 300 millionth laser transceiver at its Malaysia plant is a testament to its unmatched technological prowess.
These transceivers, small laser emitters that encode light for transmission over fibre-optic communication lines, are known for their reliability, compactness, low power consumption, and minimal heat generation.
Coherent's large-scale production of these high-quality transceivers underscores its ability to manage complex supply chains and fulfil large orders.
Let's review the technical analysis of Coherent Inc. (NYSE: COHR) shares to explore potential trading opportunities.
On the Daily (D1) timeframe, a resistance level has formed at 72.50 USD with support at 64.10 USD. A steady upward trend began at the end of November 2023. If a downward trend arises, the target for the decline could be set at 55.20 USD.
If the uptrend continues and there is a rebound from the resistance at 72.50 USD, the short-term target could be set at 82.75 USD. In the medium term, the price may rise to 98.50 USD.
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#COHR trade plan if upmove scenario65 call option position was stated on relative high volume for this particular stock.
The stated level combines nicely with the buyers' liquidity in the left-hand side of the chart.
Based on than we expect sell activity at the resistance area.
Source: PHLX exchange
COHR IS COSOLIDATION or traptaking support from 26 and 34, neutral to long, and looks fundamentally week , but technically strong on 28 and 34
Undervalued GrowthCOHR caught my attention for a few reasons.
1st. It is ≈11% of total holding of Scion Asset Mngt holdings, one of the best performing funds since 2008.
2. Technical: SP trading in demand zone, appearing to possibly be in process of forming a double bottom- confirmed on 3 day rule, vol, etc. passing 46.46 area.
3. Valuation: Currently at steep discount to competitors despite continual growth in earnings. significantly below sector by almost every metric... EV/EBITDA TTM 16% below; FWD- 40% below, P/S TTM/ FWD- 63/65% respectively, Price/ CF- 79% below. Trading about 50% below 5 year PB and 55% 5 year P/Cash flow.
4. Growth: Rev Growth YoY 177% above sector; FWD-116% above sector, significantly above sector by almost every metric besides ROE.
COHR Could go either way - toss a coinIf this support line breaks, we will test the lower bound. Could still hit target of BMV:60 -70 on longer time horizon.
