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stock recommendation, stock investment information
Begin part 3 of 3
THE PLAYS
Good movers Tuesday: DRIV; FLR; FRGO; KMRT; MSCC; NCR; OPTV; SIMG; SINA; SNDA; TLM
Monday night play results:
CME: Moved through the buy point late, but no volume yet.
ELGX: Sliding further on some stronger volume. Needs to bounce here.
IDNX: Edging higher but needs more trade.
MRCY: Eased back on lower volume but held its ground.
New Plays:
Upside:
Play Date: 11/23/2004
AUDC (Audiocodes--$15.55; +0.75; optionable): Scientific and technical instruments
http://biz.yahoo.com/p/a/audc.html
STATUS: Cup w/handle. AUDC is making a strong volume breakout from its 10 month base. Volume has been strong the entire month, and after a low volume pullback this week it shot higher Tuesday. You could call this the first breakout or a successful test; it tried the breakout to start the month and failed but recovered to form this handle. Solid 10 to 7 accumulation in the pattern (10 up price weeks on rising volume to 7 down price weeks on rising volume) shows net buyers during the consolidation. Relative strength is breaking out as well, a good corroboration of the move. Looking to start a position on a further volume move.
Volume: 963.249K Avg Volume: 511.5K
BUY POINT: $15.72 Volume=600K Target=$18.85 Stop=$14.88
POSITION: QAS CC - Mar. $15c (62 delta) &/or Stock
http://www.investmenthouse.com/ci/audc.html
Play Date: 11/23/2004
OPWV (Openwave Systems--$13.70; +0.13; optionable): Software products for the telecom industry
http://biz.yahoo.com/p/o/opwv.html
STATUS: Double bottom w/handle. Volume was up to average Tuesday after a nice low volume pullback to the 10 day EMA (13.59) that formed the handle to its 10 month base. Strong 11 to 6 accumulation shows a lot of buying during the consolidation and sets up the breakout move and run higher. Note how the handle has formed after clearing the 'hump' in the pattern, the June high; it has eased back, holding over that level on the handle lows, a sign of strength. Looks ready to make the breakout with that volume starting higher.
Volume: 1.726M Avg Volume: 1.401M
BUY POINT: $14.12 Volume=2.1M Target=$1685 Stop=$13.48
POSITION: UMN DV - Apr. $12.50c (69 delta) &/or Stock
http://www.investmenthouse.com/ci/opwv.html
Play Date: 11/23/2004
PIXR (Pixar--$89.19; +2.46; optionable): Multimedia movies
http://biz.yahoo.com/p/p/pixr.html
STATUS: Run to 100. PIXR is on a roll with lots of momentum. It surged about a week back on word its new movie was kicking box office tails. It rallied above 90 on tremendous volume, and now has made a nice, low volume test back to the 10 day EMA (86.37), a typical near term support level for a strong stock. When a strong stock hits 90, it tends to run to 100 where it stalls; that level acts as a magnet and then a barrier. Strong volume Tuesday as it jumped off of the 10 day EMA. Looking to move in on a further volume move higher.
Volume: 1.161M Avg Volume: 835.318K
BUY POINT: $89.62 Volume=850K Target=$100 Stop=$86.22
POSITION: PQJ DR - Apr. $90c (52 delta)
http://www.investmenthouse.com/ci/pixr.html
Good Investing!
Jon L. Johnson and your IH Alerts Team
All of the foregoing is commentary for informational purposes only. All statements and expressions are the opinion of Online Investment Services, LP. or its paid consultants and are not meant to be a solicitation or recommendation to buy, sell, or hold securities. We are not licensed or registered in the securities industry. The information presented herein and on our related web site has been obtained from sources believed to be reliable, but its accuracy is not guaranteed. The security portfolio of Partners in Online Investment Services, LP. or its paid consultants may, in some instances, include securities mentioned herein and on our web site. Estimates, assumptions and other forward-looking information are subject to the limits of forecasting. Actual future developments may differ materially due to many factors.
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stock recommendation
stock investment information
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