Veeco Instruments Inc. : Fundamentals remain fragile
By Bastien Chabasseuil
Entry price | Target | Stop-loss | Potential |
---|---|---|---|
$36.5 | $0 | $38.6 | +100% |
After a technical rebound, the stock is showing signs of weaknesses near to the USD 38.15 resistance. This strong level represent a good level to sell the stock.
The fundamentals and technical configuration lead us to predict a consolidation phase, at least in the short term. The USD 38.2 should play its full role and stop the upward trend initiated in the short term. Therefore, to take advantage of this technical correction, a short position may be opened in the current area to target USD 35.2 and then USD 32.2. In case of further upward acceleration, the stop loss will be triggered around USD 38.6.