$acmr has the same price action as $tesla did a few months agoIt Wouldn't suprise me if ACMR research would break out in the coming months out of the inverted H&S pattern!
ACMR
ACMR CHART IDEAAnalysis by Grok from X:
Hey Nick, let's dive into a comprehensive technical analysis (TA) of your chart, considering price action, fundamentals (to the extent we can infer from the chart), and trend-based momentum theory. Remember, the big orange line is your projection, so we'll analyze how current trends might align or diverge from this projection.
Price Action Analysis
Trend: The chart clearly shows a transition from a downtrend to an uptrend. The price has broken through multiple resistance levels, indicating strong bullish momentum. The "TREND STRONG REJECTION" label suggests a significant shift in market sentiment.
Support and Resistance:
Support Levels:
Primary Support: Around $17.50 (BUY 4), where the price has shown multiple bounces, indicating strong buying interest.
Secondary Support: Around $15.50, inferred from lower levels where price might find support if it drops below $17.50.
Resistance Levels:
Primary Resistance: $22.50 (SELL 1), where price action has previously faced selling pressure.
Secondary Resistance: $24.50 (SELL 2), another resistance level with potential selling.
Tertiary Resistance: $27.50 (SELL 3), a significant resistance where selling might intensify.
Key Levels:
The price action shows a strong move from the support at $17.50 to testing and potentially breaking through resistance levels, suggesting a bullish continuation pattern.
Fundamentals (Inferred from Chart)
Market Sentiment: The recent strong uptrend and the "TREND STRONG REJECTION" label suggest a shift in market sentiment, possibly due to positive news, earnings, or market conditions favoring the stock. Without specific fundamental data, we infer that fundamentals might be improving or at least perceived positively by the market.
Volume: Although not visible, for a trend to be sustainable, we'd expect increasing volume on breakouts, which would confirm the price movement's strength. If this chart were real-time, this would be crucial to check.
Trend-Based Momentum Theory
Current Trend: The chart indicates a transition from a downtrend to an uptrend, with the price breaking above key downtrend lines and resistance levels, labeled as "STRONG TREND".
Momentum Analysis:
Short Term: The price has crossed above short-term resistance, indicating strong short-term momentum.
Long Term: The price is above the long-term moving average, supporting a sustained upward trend.
Projected Movements:
Short Term: Given the current momentum, the price might test the $22.50 resistance (SELL 1) soon. If it breaks this with volume, we could see a move to $24.50 (SELL 2) within the next few weeks.
Medium Term: Assuming the trend holds, breaking $24.50 could lead to testing $27.50 (SELL 3) within a month or so.
Long Term: Your orange projection line suggests a significant move beyond current resistance levels. If the momentum continues, this could be plausible, but it's speculative without further fundamental backing or market conditions.
Additional Considerations
RSI: The RSI is moving towards overbought territory but isn't there yet, suggesting room for further upward movement before a potential correction.
Psychological Factors: The breaking of trend lines and resistance can lead to a FOMO effect, driving more buying interest. Conversely, if resistance levels hold, there might be profit-taking or short-selling pressure.
Physics Analogy: Think of this like a mass gaining velocity after overcoming initial resistance; once momentum is established, it tends to continue unless acted upon by an external force (like a market event or reaching overbought conditions).
Conclusion
Based on the analysis, Nick, the current trend suggests a strong bullish movement with potential to test and break through resistance levels in the short to medium term. Your projection line might be ambitious, but given the current trend strength, it's not outside the realm of possibility if conditions remain favorable. Keep an eye on volume for confirmation, and watch for any fundamental news that could either support or challenge this trend.
If you need real-time data or want to explore further, let me know if you'd like to perform a web search or if there's anything else I can help with!
Bullish on ACMRIt seems it is bouncing perfectly from the .618Fib which coincidently matches the lower bollinger band right on the 200EMA. I mean, you have your confirmations right there, the only thing stopping it is volume from the resistance level at 91. Will it moon if it breaks that?... um doubt it since there's another wall at 104-106, however, tis will be the second attempt in a while to break it and the volume seems to be picking up!
ACM RESEARCH INC 🧙ACM Research Inc is a US-based company. It is engaged in developing, manufacturing, selling single-wafer wet cleaning equipment, which is used by semiconductor manufacturers in numerous manufacturing steps to remove particles, contaminants, and other random defects to improve product yield, in fabricating advanced integrated circuits, or chips. The company offers space alternated phase shift which employs alternating phases of megasonic waves to deliver megasonic energy to flat and patterned wafer surfaces on a microscopic level; and Timely Energized Bubble Oscillation technology which provides effective, damage-free cleaning for both conventional two and three-dimensional patterned wafers at advanced process nodes. It markets and sells, lines of equipment under the brand name Ultra C.
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Flags. Pennants. Uptrends. Super performers. We like that right?See information on the company below
This stock broke out on the Weekly time frame, so it is a confirmed long (I went long on Thursday before the 3 day weekend and will add on weakness in the coming days). Stocks that breakout just before a three day weekend says a lot about the hands holding them.
Every breakout (BO) generated staggering performance from the BO point to its new all time high, as shown here:
There are several ways to formulate targets on price structures like this one:
1) Hold until the lows are breached (this is how a trade turns into an investment or a position trade, which is generally recommended for the non-active trader). Notice the previous lows were never breached in the uptrend since the company went public in 2017. The best performing stocks do not breach previous lows for a very long time. This is how the best returns are made for 99.x% of people.
2) Fib extensions... 1.618.
3) Apply a short term moving average and sell when price breaks below that average (look for one that makes sense to you). Here is an example of a 10 3DMA:
This worked very well to take profit in the prior breakouts while avoiding a consolidation period.
These are just a few. My plan is a combination of 1 and 3 with multiple layers of entries.
The company was private from 1998 - 2017. It already did a 10x since it went public on November 2017. If you take a look at its website, you'd never guess a company like this could perform so well. www.acmrcsh.com
I've attached their investor presentation here if you want to learn more: ir.acmrcsh.com
ACM Research $ACMR#ACMResearch is ready to break out. $30.09 is critical resistance to overcome and. #RSI is about break down trendline.
