ICHR trade ideas
$ICHR New Highs Ahead$ICHR just made new 52-week highs after guiding higher.
Ichor (NASDAQ:ICHR) announced Q4 revenue of $189M (+22% Q/Q) versus the $184.9M consensus.
The company expects positive cash flow from operations, with $61M in cash at the end of the year and $181M in total debt.
For Q1, Ichor sees total sales of $210-230M, above the $181.9M consensus.
Ichor will report earnings on February 5.
B. Riley (Buy) raises its Ichor (NASDAQ:ICHR) target from $40 to $45 after yesterday's preliminary Q4 results.
The firm was "pleasantly surprised with the revision and F1Q20’s upside magnitude" and sees the potential for strong "margin leverage and powerful EPS follow-through."
DA Davidson (Buy) lifts Ichor from $38 to $40, noting that the "monster" outlook implies that Q1 "will be the third largest revenue quarter in the company’s history."
Lam Research (LRCX +0.6%) and Applied Materials (AMAT +0.9%) are up after the outlook since the companies account for 56% and 32% of Ichor's revenue, respectively, according to Bloomberg data.
As always, use protective stops and trade with caution.
Good luck to all!
ICHR Pattern Forming for UptrendBack in September of 2017 ICHR formed a pattern that seems to be mimicked by the one forming in the last month of so. As you can see in the video, the pattern is noted by key points that have matching characteristics, including MACD crosses to confirm uptrends and almost mirror-image movements in similar time frames. The first pattern back in 2017 resulted in a long uptrend, and the way the same pattern is forming now (plus the solid past few days of trading), a continued uptrend is very likely. Both trend lines have about the same slope and seem to have similar fluctuations as well. Though it is difficult to predict what with the recent market volatility, I feel confident in a strong surge for ICHR in the coming weeks.
Strong bounce from early selling$ICHR and many others in the $SMH field were heavily sold this morning, but most have bounced back to stay near highs. Based on the alert indicator( orange triangles), a large portion of these stocks $UCTT, $ICHR, $AMAT, etc. need time to consolidate the most recent run.
ICHR good Watchlist candidate after IPOICHR Looks like a very good Watchlist candidate for me as it Looks to forming sideways movement which is only Natural after a 41.84% move in 47 days ICHR immediately formed a very bullish flag Prior to it's IPO.
Keep this on you watchlist and look for any breaks and Closes above the top blue line it has top fundamentals to for instance an estimated EPS of +5000% ;) just one of many factors to Keep and eye on this one.
