NVEC Pays Off Big, Now Basing Out
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!!
