>Veeco (VECO) Could Light Up Christmas

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Veeco Instruments Inc. (Nasdaq:VECO) is in the business of lights, so it seems to be an appropriate play for the holiday season. The company designs, manufactures and markets solutions for customers in the markets for LED, solar, data storage, scientific research, semiconductor and industrial markets. I’ve seen this stock pop up in IBD numerous times, and is a pretty compelling growth story.

In addition to being a strong fundamental story, the chart technically looks great with a very tight pattern. The stock is a bit thin, though, so it’s not for everyone. I am in tier one long from around the $45 area and am looking to potentially add tier 2 or 3 as it triggers through $46. My first target on the trade at this point would be around $50, and then perhaps new highs above $55 if it can stay strong. A good stop on th trade would be $43.

*DISCLOSURE: Long VECO

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