Rogers Corp is an Arizona-based specialty engineering materials company. It sells materials used in circuits, connectivity applications, wireless infrastructure, automotive industry, and defense industry. It also sells polyurethane and silicone materials used in cushioning, gaskets, sealing, and vibration management. Increasing investments in 5G infrastructure, electric vehicles, and the Internet are expected to drive long-term growth for the company.
The long-term monthly chart for Rogers shows a gradual uptrend that accelerated in late 2016 and continued through to 2018. Since 2018, the stock has been in range with $107 acting as a support zone. The price hit an all-time high of $206 in May 2019 before falling by a massive 74% over the next year. The price fall took the stock below the $107 support zone as well as the bottom of the long-term trend.
In April 2020, the price bounced back up and, over the next 4 months, gained 60%. The next likely target seems to be around $180. Stop loss can be placed below the support zone at around $100.
Positions taken today at $116.79 with stop loss 35% below at $75.79. Short to medium term take profit set at $180 giving a profit of 54%
On the video and images above you will see the reason this stock was selected.
You will see the image is of a monthly chart of the stock showing the long-term upwards trend formed over the years. You will also see the entry point and the where the stop loss is placed. For more information please watch the video given.
Once it is time to move the original stop loss up you will see an additional image.
If you are interested in purchasing the above stock please click here to view some trading platforms.