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Sunday, July 01, 2007 

iPhone on sale !! Novellus and Broadcom drop

Chart courtesy of stockcharts

Shares 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.

Chart courtesy of stockcharts

BRCM shares breakdown an important base of support at 30 $.

Disclaimer : Trading stocks involves risk, this information should not be viewed as trading recommendations.The charts provided here are not meant for investment purposes and only serve as technical examples.

That's All. Have a nice evening !!!

AC

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  • I'm a 43 year old Independent Trader using proprietary technical analysis with more than 18 years experience of investing in the US stock markets. I started this blog in 2006 simply as a way to share my thoughts about capital, risk management, and trading. My blog contains only my personal opinion and is provided for informational purposes only.

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