NOVELLUS SYSTEMS
(NVLS-Nasdaq):
Technical Viewpoint: From a low
of $25.37 on Nov 3, 2001 prices
rallied, reaching a
high of $34.30
on Oct 12, 2001. A
decline saw prices pull back, reaching a
low of
$28.28 on Oct 19, 2001.
Another rally saw prices penetrate
resistance, closing 10/25/01
at $36.23. Technicals: MACD Index (MACD): A Buy Alert!
was given on Oct 4, 2001 when the solid line crossed the dotted line to the upside.
Support: Remains at $32.75. Resistance: Is at $45.00.
Point & Figure: Reversed to the upside on Oct 23, 2001. A P&F upside
reversal takes place at $33.00. Summary: Technical indicators have turned bullish. BUY! NOVELLUS SYSTEMS
(NVLS-Nasdaq) @ $36.75 Stop: Use a protective stop of $34.13.
NOVELLUS SYSTEMS is currently trading @ $36.23 plus $2.21 on Oct 25, 2001. Price Objective:
$48.00. Risk/Reward: $2.63 VS. $11.25. Today's Risk Reward Ratio: 4:1
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