NVLS, Novellus Systems Inc.

NVLS jan 29 l 2012NVLS jan 29 s 2012

Novellus is in the semi-conductor business; it does not make them but supplies the systems that make it possible to make them. It is a very interesting company and according to Stockcharts has the highest possible technical rating, mostly I suspect , on account of momentum. There are a good number of reasons to sell this stock between where it is today and at $61 (nice Fibo #).  Trendlines suggest it has gone far enough. If it is A-B-C up  C will equal A at around $53. If you follow the gap in the middle concept, the target is a little lower. Ultimately a double top would be at $61. Take your pick.