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
Comment
⋅
NANOMETRICS still has a bit to fall inside the Bullish Flag but still playing out nicely
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.