Veeco Instruments Inc. (NASDAQ: VECO)

Veeco Instruments Inc., together with its subsidiaries, designs, manufactures, and markets various equipments to make light emitting diodes (LEDs) and hard-disk drives worldwide. The company's LED and Solar segment designs and manufactures metal organic chemical vapor deposition and molecular beam epitaxy systems and components for the manufacturers of LEDs, wireless devices, power semiconductors, and concentrator photovoltaics, as well as to research and development applications. Its Data Storage segment designs and manufactures various technologies, including ion beam etch, ion beam deposition, diamond-like carbon, physical vapor deposition, chemical vapor deposition, and slicing, dicing, and lapping systems to create thin film magnetic heads that read and write data on hard disk drives. The company was founded in 1945 and is headquartered in Plainview, New York.

To review Veeco's stock, please take a look at the 1-year chart of VECO (Veeco Instruments, Inc.) below with my added notations:

VECO has created a couple of important price levels to watch. First, VECO has formed a clear resistance at $38 (red), which would also be a 52-week high breakout if the stock could manage to break above it. In addition, the stock is climbing a short term, up-trending support level (blue) over the last (3) months. These two levels combined have VECO stuck within a common chart pattern known as an Ascending Triangle. Eventually, the stock will have to break one of those two levels.