ACMR Emerges from a Flag Pattern
Updated: Nov 16
ACM Research, $ACMR, has emerged from a flag pattern. This stock exploded higher from $35 to $70 and then went sideways for the next eight weeks. During this time, it never lost its 10-week moving average which is very impressive considering it doubled so quickly. This is a smaller and very volatile stock with the potential to move upwards towards $100. When I trade in this type of stocks, I like to take a reduced position with a wider stop loss due to the increased volatility. Regardless of how much I like a stock, I always remember to keep risk management as my number one priority because I know anything can happen in the stock market.
Full Disclosure: ACMR is a stock I currently own.
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