Long Position on DQ @ $54.50 on 4/30/2018 (Momentum)

Daqo New Energy Corp. (DQ) manufactures and sells polysilicon and wafers in the People's Republic of China.

It operates through two segments, Polysilicon and Wafers.

The company offers polysilicon to photovoltaic product manufacturers who further process its polysilicon into ingots, wafers, cells, and modules for solar power solutions. It also provides multi-crystalline wafers. 

Shares have formed a bullish "cup and handle" and higher share prices are expected. Note that the formation is supported by the stock's 50-day moving average. 

The company is expected to report its quarterly results on May 7th.

Entry Point: $54.50

Stop Loss: $51.77

52-Weeks Trading Range: $18.23 - $72.50

Target Price: $59.95

Updates

5/14/2018 10:47:26 AM

DQ closed at $60.80

Position closed on 5/14/2018 at price of $60.80 with a 11.56% gain in 14 days.

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