Long Position on ACLS @ $21.50 on 7/7/2017 (Momentum)

Axcelis Technologies, Inc. (ACLS) designs, manufactures, and services ion implantation and other processing equipment used in the fabrication of semiconductor chips in the United States, Europe, and the Asia Pacific.

The company offers a line of high energy, high current, and medium current implanters for various application requirements.

It also provides dry strip equipment, curing systems, and thermal processing systems, as well as services and supports its dry strip installed base.

In addition, the company offers aftermarket lifecycle products and services, including used tools, spare parts, equipment upgrades, maintenance services, and customer training.

It sells its equipment and services to semiconductor chip manufacturers through its direct sales force. 

Shares are heading higher in an upward trading channel. The lower bundary of the said channel coincides with the stock's 50-day moving average. Higher share prices are expected for this stock.

52-Weeks Trading Range: $9.88 - $26.53

Entry Point: $21.50

Stop Loss: $20.45

Target Price: $23.80

Updates

8/4/2017 1:02:20 PM

ACLS closed at $20.00

Position closed on 8/4/2017 at price of $20.00 with a -6.98% loss in 28 days.

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