Major Resistance Forms For This Stock, Can It Breakthrough?
ACM Research, Inc. (AMCR) engages in the development, manufacture, and sale of single-wafer wet cleaning equipment. It supplies process solutions that semiconductor manufacturers can use in numerous manufacturing steps to remove particles, contaminants and other random defects, and thereby improve product yield.
Take a look at the 6-month chart of ACMR below with the added notations:
Chart of AMCR provided by TradingView
Since the beginning of May, ACMR has repeatedly hit a wall at the $17 resistance level (yellow), most recently just last week. If the stock can manage to break up through that $17 zone, higher prices should be on the way.
The Tale of the Tape: ACMR has an important resistance at $17. A long trade could be entered on a break through that level, with a stop placed below it. However, if you are bearish on the stock, a short trade could be made on any rallies up to the $17 area.
Before making any trading decision, decide which side of the trade you believe gives you the highest probability of success. Do you prefer the short side of the market, long side, or do you want to be in the market at all? If you haven’t thought about it, review the overall indices themselves. For example…
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