The Long Investor

$AMSC - Chart of the Week - COTW

Added 2023-08-07 12:54:49 +0000 UTC

Ok since Alex alerted our group of the Superconductor buzzword last week, I have been doing some research into what this is.

And to say I am interested is an understatement.

Engineers in Korea have been able to develop a semiconductor that can work at room temperature, usually it needs to be supercooled to work.

So this causes significantly less drag and energy waste when transferring energy from one source to another....in short, this is a substantial breakthrough for semiconductors.

We can see on the chart that $AMSC got a large jump on the strength of this news before coming back down, again not making it to the 4.618 Fib and also finding resistance at the 1.618 Fib, so I believe this is in an ABC count now for Wave 4.....if the price can pull back to the 1.618 Fib where we can see the 200 Day MA moving towards it, this may be a good level to buy to take advantage of this movement.

The Koreans have released their findings online in academic journals so the Semi industry is likely working tirelessly behind the scenes to recreate their findings, $AMSC appears to be the US front runner and $CLS, who is more established.

I will be closely monitoring this and I am considering setting up a sub group from our Telegram group to help research and analyse this new market so we can all benefit from it.

For now, buying close to $8.60 and holding at this level, would be the ideal spot to buy to catch more upside.