NVEC Pays Off Big, Now Basing Out

Posted by Blain Reinkensmeyer
October 27, 2006 at 12:29 am

After buying a position for my clients under $32, the run to $43 was huge, powered mostly by strong earnings. I sold half my position at $42.80, then the rest at $42.07. That same day the stock moved down as low as $39 (10/24). The last few days the stock has bounced around $39-$41, and volume has died off nicely. Today the stock closed at $39.65, and looks to be in good position to base out before taking off past $43.19 highs.

I am posting this to first off bring NVEC to your watch list; keep an eye on it for a good buying opportunity. I think anything below $38 is a bargain. If a distribution day comes first before the next accumulation day, a baseout may take longer, but staying in the range of $38-$42 could represent a move to new highs easier. Bottom line, watch NVEC!!

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Pingback by Stock Trading 101 » Blog Archive » NVEC up 9%

2006-10-30 10:36:36

[...] Last week I posted on NVEC basing out and recommended readers add it to their watch list. Well, Friday the stock closed on a perfect upswing pattern, and today the stock is up almost 9%, just hitting new intra-day highs (real time) about 1.5 minutes ago of $43.75. Volume is currently 650,000+. Share and Enjoy:These icons link to social bookmarking sites where readers can share and discover new web pages. [...]

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