Major resistance near the $4.65 area with minor resistances along the way from current price. Great to hear the Northland comments as the stock currently trades under most analysts radar screens with the last official coverage being made in 2008. Remember she has come a long way from the March lows of 68 cents, and the thinnly traded stock has indeed been volatile with price action. Support is strong near $2.75 and a bit weak at $3.
It will be interesting to see how soon AXT can reach those levels of resistance. There is a possibility we are there before Q4 earnigns, but I think it likely will be after.
We are going to end the year with a pretty good year over year and from the yearly low gain. AXT closed 2008 at $1.35, so we are looking at more than a 100% gain and with a little luck over the next few days maybe we get close to a triple. That will put it on people radar screens and if they can continue to deliver 30+% GMs and growing revenue, Q1 or Q2 earnings should see us in the $5+ range. Afterall, if they make 20 cents in 2010 they should be trading north of $6.