The above chart shows the one-year daily price chart of Nanometrics Incorporated (NANO) stock price which is coming off from its lows of US$25.58 on Christmas Eve 2018 to close the week on January 11, 2019 at US$28.91, or a rise of 13 per cent from its trough levels.
Looking closer at the stock price chart, we noticed that the stock is moving towards the 50-day moving average (MA) line (light blue colour line). We think that if the momentum holds, the stock could rise to US$30.00 to US$35.00 in the short-to-medium range if it can break above the resistance level currently at around US$30.00. However, if it fails to hold on to the current momentum, the stock might head down towards US$25.00 to possibly US$22.00 price support level ranges.
While there have been no specific news relating to the stock, we noted that US and global financial markets are trading on the upside on optimism over the conclusion of the US-China trade talks, and the toning down of remarks by the US Federal Reserve over potential future interest rate hikes in 2019.
We aim to provide readers with weekly stock price updates and analysis for NANO and the rest of its peers starting this year 2019. We hope to provide readers with regular weekly news of updates on both fundamental and technical side as we think that the sector holds many potentials for further upsides in 2019. So, watch this space in 2019!