I am doing more NFTRH+ highlights in the weekend report as opposed to in-week at the site. That way people can research the stocks in question at their own leisure. FARO has been a long-time favored company of mine, since I met them early last decade and invested at 4 bucks a share (selling those at 25 long ago).
Anyway, most recently I momo’d* (rare for me) Faro’s nice February earnings release, then bought the big downward flag (1), had patience with a paper loss and got rewarded on the May earnings. Then per the NFTRH+ Notes segment in NFTRH 395…
“Last week I could not resist buying the new bull flag that is forming. I only hope it does not have the endurance of its predecessor. I will plan to use the converging SMA 200 and SMA 50 as a general and roughly defined limit on the trade. But if all goes well and the chart survives any near-term negative market activity that may develop, Faro is the kind of company I’d consider holding on to indefinitely, given its most recent string of two pleasing quarterly results.”
Flag 2 did not have the endurance of its predecessor and resolved bullish after a little more gentle downside.
As a side note, we did further review of the Robotics industry in NFTRH 397, including a Robotics ETF, which includes Faro, of which I was a prospective customer and Intuitive Surgical, which was a customer of mine back in the old days. With respect to Faro and others, the ETF obviously loosely defines Robotics, although Faro’s measuring devices are as Robo as you can get in the area of coordinate measurement.
* For those who don’t get the lingo, I chased the post-earnings momentum and took a quick profit.
A reminder that chart based NFTRH+ updates are technical trade setup ideas, which may not be revisited as the buy, sell, stop parameters are already noted. They are meant as a starting point for further research if interested. I will not personally buy every item highlighted and will sometimes sell – without prior notice (because this takes time and resource away from NFTRH’s main functions) – any item that I do buy, below target, which is something I often do as a trader. Also please be aware that I am not a fundamental stock analyst. Due diligence is your responsibility.
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