IPG Photonics ($IPGP)

Market Cap: 5.09B
Average True Range: 2.33
Beta: 1.86
Forward P/E: 19.31
Sector: Semiconductor Equipment
Sales Growth Q/Q: 16.60%
EPS Growth This Year: 27.60%
EPS Growth Q/Q: 40.30%

IPGP is an Investors Business Daily Top 50 Stock. They display tremendous growth metrics, no debt, strong margins and ROE over 20%.

The Stock has been a big winner since the '09 lows, gaining 1600%. IPGP has recently broken higher from a 4-year Ascending Triangle formation at all-time highs. Buying volume expanded on the recent breakout and has now consolidated sideways since March.

The recent consolidation has come on reasonably low volume indicating modest profit taking vs distribution. All timeframes are aligned and bullish on the Monthly, Weekly and Daily.

With the Semiconductor space seeing strong rotation recently, IPGP positions to take advantage of any further strength we might see in the market.

IBD's William O'Neil says you want to own the highest quality growth stocks while the market is healthy. This is where you find big market winners. Should the market continue to cooperate, I believe IPGP is a strong candidate for out performance over the next 6-12 months potentially.

MONTHLY

WEEKLY

DAILY

I really like the structure of this large base breakout followed by the resilient consolidation above that breakout level. I like an entry in this area with stops below the weekly closing low from 5/1 at $90.60
Here is a zoomed in view of that stop level:

A weekly close below 90.60 would be the lowest weekly close in the last 15 weeks and would force me to reconsider my bullish posture.