Entegris Inc. Long Play

Upside wedge breakout

New Highs 4

Entegris is a leading specialty electronics materials provider to the high-tech industry and its current analyst consensus rating is 9 buy, 2 holds and 0 sells, according to Bloomberg.

Looking at a daily chart, on Wednesday, Entegris's (ENTG) stock price broke to the upside of a rising wedge pattern that price has been increasing within since April. Price has also been making record highs since it broke above the $59.00 level. The RSI has also been rising above a bullish trend line and currently sitting just above 65. Price appears to have momentum and it is likely that price will continue to make new highs. As long as price can hold over the $59.00 support level, price should continue to advance. If price falls below the $59.00 support level, price will most likely decline towards the $53.00 support level.    

Source: GAIN Capital, TradingView

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