Monday, March 10, 2008
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2 comments:
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.
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.
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