Friday, February 29, 2008

Tech stocks technically.

I wrote this week that I expect rebound for Divx (DIVX). Today stock were off 10% (25% in last 5 days!!!) but nevertheless price turned over and closed by +0,41%. This rebound has formed technical hammer candlestick. I see this as beginning of short term reverse.

Another tech company which I am watching closely is Google (GOOG). Recent selling pressure sent shares to valuation which is very attractive in comparison to growth prospects. Even broad sell 0ff on US markets didn't affect Google too much and stocks closed only with -0,89% change.

OmniVison Technology (OVTI) was leading nice gains this week after company released strong quarter results. Technically OmniVison reached strong support zone at $12 and created already third bottom during last 3 years (attached chart). Better than expected results lifted also some semiconductor producers like Micron Technology (MU). Micron lost around 40% in 2007 but there are already sings of rebound for 2008. Stocks are +3,72% YTD.

Related tickers: (QQQQ), (SMH), (XSD), (USD), (IGW), (PSI), (SSG)


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