Let’s look at the one of the best growth stock Nanometrics Incorporated (NANO) technical chart analysis using it’s weekly stock chart, as it’s trading close to its buying price, April 28, 2017.
#2 – The stock was under long consolidation, but wild for most part of early last year.
#3 & #4 – The stock had a quick, but nice run after than and followed buy another wild consolidation.
#5 – The next run was solid and accumulated nice price gains.
#6 – The accumulation volume also heavy and above average.
#7 – The stock found support at the 50 day moving average line, all along.
#8 – The stock appears to be in a quick consolidation.
#9 – The stock may offer a good buying opportunity when it clears this consolidation.
The ideal buy point would be $30.92 – $32.47.