LASR trade ideas
BREAKOUT CUP WITH HANDLE AND HIGH VOLUM BUY LASR ABOUT 34.50 $Zacks Equity Research
November 6, 2020·3 min read
NLight (LASR) came out with quarterly earnings of $0.12 per share, beating the Zacks Consensus Estimate of $0.01 per share. This compares to earnings of $0.01 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of 1,100%. A quarter ago, it was expected that this laser maker would post a loss of $0.06 per share when it actually produced break-even earnings, delivering a surprise of 100%.
Over the last four quarters, the company has surpassed consensus EPS estimates three times.
1% CAPITAL
LASR would continue upward movementLASR forming a pennant pattern with decreasing volume after price increase, thus, it could go higher if price break above the pennant pattern.
NLIGHT bullish trade setup
Entry level $22.25
Target Price $26.46
Stop loss $21.15
Short interest = 5.86%
Average Recommendation:Overweight
Average Target Price:$21.50
Company profile
nLIGHT, Inc. develops and manufactures semiconductor and fiber lasers components. Its products include semiconductor lasers, fiber lasers and optical fibers. The company was founded by Scott H. Keeney, Mark DeVito and Jason Farmer in 2000 and is headquartered in Vancouver, WA.
PLEASE GIVE US A LIKE IF YOU FIND OUR CONTENT HELPFUL, IT IS REALLY APPRECIATED
LASR -LONG base consolidationMaking new highs and higher lows. Nice consolidation along base. Earnings winner. Moving averages splitting open. MACD up. Double bottom. Volatility factor slightly rising, and quietly trending after earnings. Positive fundamentals. I like so many things about this one!
Using 10% stop loss from entry for future to better track my results, which is near swing low $19.91
0.2% capital risk
Also considering re-entry on $VG after seeing rejection of sell off @ earnings report, watching for now.
Take retest double bottomCCI favorable to uptrend, retesting nekline of double bottom.
Just my opinion, not recommendation of buying.
Learning momentum and trading with dominant energy of the market.
