November 10, 2020, 12:12 pm EST
2020 Actual Trades: OLED +19% Profits
Universal Display Corp (OLED) is a 10 Billion company that makes Organic Light Emitting Diode display devices like IPhone, tablet and wearable devices, etc. It is a red-hot technology company because more devices use OLED and the trend is likely to continue. This trade is based on following factors:
- Consistent sales growth 10-20% for the past three years
- Cup with handle setup with breakout
- Entry point seemed fine but went through tough cycle in negative zone
- Cup formed support to turn to uptrend again with +19% profits
OLED is still a long term hold stock because of its strong earrings. Thus, it is worth attention to buy again in the future.