IPG Photonics Corporation (IPGP) is engaged in the design, development, production and distribution of fiber lasers, laser systems, fiber amplifiers and related optical components. The Company offers a line of lasers and amplifiers, which are used in materials processing, advanced communications and medical applications. The Company sells its products globally to original equipment manufacturers (OEMs), system integrators and end users. The Company has sales offices in the United States, Germany, Russia, Italy, Turkey, the United Kingdom, France, Spain, Poland, Czech Republic, China, Japan, South Korea, Singapore and India. The Company's manufacturing facilities are located in the United States, Germany and Russia. The Company also manufactures complementary products used with its lasers, including optical delivery cables, fiber couplers, beam switches, optical processing heads and chillers. In addition, the Company offers laser-based systems for certain markets and applications.
IPGP is trading in a small channel now. Biased on previous channels when it breaks out it will fall till it finds a new low. There are two possible lows that I predict for this. The first being at 75.xx Which is the previous low from February. It will find support here but if manages to break out the next support will be 71.xx - 70.xx Here is my full DD on IPGP with charts.
IPGP looks ready. Will probably get in early next week. My $3-box by 3-box-reversal point and figure objective is $441.
