Thinking about buying Universal Display (OLED)? Before you do, make a plan. Here’s one. (May 08, 2017)
We are looking at OLED, Universal Display ( NASDAQ:OLED ), one of the big suppliers for Apple ( NASDAQ:AAPL ). Here is a weekly chart, it goes back many moons. GREAT long-term prospects here. While the swings have been kind of deep and wide the stock has essentially traded in this range since 2011 and it is finally starting to breakout. So if we are just looking at technicals this is a stock that is just getting going; but this is also in a weekly time frame. If we go down to the daily time frame you can see what happened. The stock pops on earnings, very, very strong first day, big money goes in there. Today was the second day, more big money goes in there, but the stock closed down close to the low of the day.
Here is my suggestion: The stock peaked kind of early in the morning after the first hour of so, right? And then it has been drifting down ever since. If you are long this stock decide what your time frame is and decide what your desired position size is. For my money, I am selling this stock right now. Long-term, I want to buy it, I want to own it. But long-term, I am thinking about 2018; I am thinking about the quarter after Apple ( NASDAQ:AAPL ) reports great numbers for a strong iPhone release, stuff like that. I am thinking longer-term. Short-term, I have got to take profits on this. The stock popped up, at one point today it was up 30 percent from where it was pre-earnings, that is just too much. I am not even going to tell you where to put a stop, because I just think you should sell tomorrow morning. Look to buy it back lower, and then zoom out, set your clock for sometime in 2018.