Initially I stumbled upon this stock by pure chance and decided to chart it for fun. And what a diamond in the rough it turned out to be.
Looking at the chart on a weekly basis there is a definitive bullish flag forming currently as shown in red. Which is a good sign for NANOMETRICS, putting it's breakout flag pole dead on a 1:1 fib extension of minute wave 3 and 4 (orange) if the price moves back into the 23 - 21 USD price range. Looking at the EW count I have put in where I see minor wave 3 finding a top and where I will be taking my first profits once my lower buys fill. I have also given a rough estimation on where minor wave 5 will finish in the long term. Please don't pay attention to dates or time and focus on price targets.
I am open for discussion and comments
Looking at the chart on a weekly basis there is a definitive bullish flag forming currently as shown in red. Which is a good sign for NANOMETRICS, putting it's breakout flag pole dead on a 1:1 fib extension of minute wave 3 and 4 (orange) if the price moves back into the 23 - 21 USD price range. Looking at the EW count I have put in where I see minor wave 3 finding a top and where I will be taking my first profits once my lower buys fill. I have also given a rough estimation on where minor wave 5 will finish in the long term. Please don't pay attention to dates or time and focus on price targets.
I am open for discussion and comments
Comment:
NANOMETRICS has broken out of our breakout buy entry zone and pushed amazingly with a 20% move up from an entry of 30.25$ moving beautifully at the moment
Comment:
NANOMETRICS is still moving nicely with some strong gains. Currently at 37.90 USD and 2 USD off the first profit take. The idea here is to lock in some profits when we can. If we see a reversal prior to the 40 - 43 USD range taking profits on a confirmation of change in direction will be considered. The idea isn't to always chase tops and bottoms up take profits when possible.
NANOMETRICS is still moving nicely with some strong gains. Currently at 37.90 USD and 2 USD off the first profit take. The idea here is to lock in some profits when we can. If we see a reversal prior to the 40 - 43 USD range taking profits on a confirmation of change in direction will be considered. The idea isn't to always chase tops and bottoms up take profits when possible.
NANOMETRICS still has a bit to fall inside the Bullish Flag but still playing out nicely