Monday, March 10, 2008

Today Was a Good Day (but not for Eliot Spitzer)


Anonymous said...

Hi Pyth, would you care to comment on the price action of Omnivision Technologies, OVTI? It's been sticking to $17.25 in a really bizarre way over the past few days.

pythagoruz said...

Very interesting chart there. The stock seems stuck to $17.25 as you say, even while the broad market is flying all over the place. That narrow range looks like a consolidation pattern before some news event. Since the intermediate term trend is higher i would guess it breaks out to the upside. With the 200 dma just above at 17.80 OVTI could have some trouble moving higher. A close above 17.80 would be very bullish.

Nice chart in an ugly market.