NVLS near the major support
Thursday, June 28, 2007
Novellus shares drop more than 3% to 28.89 after announced that its second-quarter results would come in at the low end of its prior forecast, hurt by a weaker semiconductor market. The technical chart above show that stock is now in a bad situation with 50 dma below 200 dma and with indicators pushing down. Investor confidence in stock decreased dramatically since the begin of May as show RSI Indicator. Pay attention to 28.50$ level support.
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.
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.
Labels: NVLS
