$NASDAQ:AEHR Breaking out of a triangle patternNASDAQ:AEHR is breaking out of a triangle pattern with positive news and earning coming.
Things to consider:
Earnings - Monday 1/13, they've been posting wins quarter after quarter, and I suspect this quarter will be no different. I'd expect a positive boost for the stock price.
News - They've made recent announcement about new product offerings which will help increase their revenue stream. See:
www.tradingview.com
www.tradingview.com
Entry Point:
Current Price ~$17/$18
Stop Loss Target:
Since the stock appears to be in an upward trajectory, setting a close stop loss should be ok something like $15/16. That would mean the price starting dropping back below the breakout point.
Price Target:
$35.99
Back Story:
I have a love/hate relationship with AEHR, it was one of my first big wins in trading stocks - It was my first pennant pattern that I bought ~$6. I then continued taking profits and looking for new entry points. I bought low, sold high (rinse and repeat) and finally got burned by not selling when it hit ~$50's! Lesson learned... Stocks do come crashing down, take profits and accept losses.