Everything OLED Is New Again (Former High Flyer Could Be Taking Off Again)

by | Oct 12, 2023

If you like good-looking screens on your TV, then you like OLED (Universal Display Corporation.)

They make our consumer electronic displays look pretty.

And if you like stocks with good recent relative strength who look poised to break out of a sideways channel, you also like OLED: 

It’s bounced off its 30-week simple moving average multiple times and has shown strength each time.

And now it’s showing good momentum as it’s moving toward a breakout level.

A break above $166.57 could lead to a nice run.

Especially if the market stays bullish.

Happy trading,

— Scott Welsh

P.S. As a reminder, these plays are based on my longer-term Weinstein Stage Analysis method. The chart above uses weekly candles and a 30 week simple moving average. For details on this method, see my explanation on this Ask The Pros episode starting at timestamp 20:45.

What to read next