AXT, Inc. (Nasdaq:AXTI) is a company that develops and distributes compound and single element semiconductor substrates. The stock looks good technically and also ranks high in Jordan Kimmel’s MAGNET Stock Selection process.
Technically, AXTI has been trading in a very tight pattern and has ignited. I was in a tier one from around $8.70 and added through $9 for the extension to new highs. AXT has a road show next week to talk to all the analysts; typically companies do this when they have something good to say. My stop on the trade will be $8.30.
*DISCLOSURE: Long AXTI
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