Novelus Systems downgraded
Tuesday, May 15, 2007
Chart courtesy of stockcharts

Shares of Novelus Systems was down more nearly to 2% to 31.12$ after analysts at Global Crown Capital downgrade company from "neutral" to "underweight" and setting the price target to 27$. Looking at the chart we can see a clear channel with share price setting down to near the bottom of reffered channel, however the investor confidence showed by the indicator RSI still decreasing.

Disclaimer : Trading stocks involves risk, this information should not be viewed as trading recommendations.The charts provided here are not meant for investment purposes and only serve as technical examples.

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posted by Pro Investor Trader at 1:15 PM | Permalink


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