iPhone on sale !! Novellus and Broadcom drop
Chart courtesy of stockchartsShares of Novellus were down on Thursday more than 3% closing at 28.29$ after announced that its second-quarter results would come in at the low end of its prior forecast, hurt by a weaker semiconductor market. In addition Novellus said it would take steps to cut costs in the second half, including reducing executives' salaries and implementing shutdowns in the third and fourth quarters. Looking at the chart above, stock is now in a bad situation with 50 dma below 200 dma and with indicators pushing down. Investor confidence in stock decreased dramatically since the begin of May as show RSI Indicator, so I’m extremely cautions on stock in the Bull side right now. In addition, MACD K line is near to cross D line. Major support of Novellus is now at 28.50$.
iPhone will be available in a 4GB model for $499 and an 8GB model for $599, and will work with either a PC or Mac.
BRCM shares breakdown an important base of support at 30 $.
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That's All. Have a nice evening !!!
AC
