Up $.72 [5.33%] on 53.3 million shares...was as high as $14.55. As impressive as this looks and sounds, all good things eventually conclude...or in NUAN's case, a consolidation.
The absence of more hard-charging volume [money flow] the last two days could signal profit-taking. A sell-off to $13.50 would not be at all a surprise---that's where support is. In fact, the MFI has dipped the last two days.
More evidence will be found in the fact that NUAN closed at $14.24 BOTH yesterday and today...although volume [earlier in the day] was in the +50% range. This is called "churning"; little or no price appreciation on higher volume.
For those technically inclined, the up vs down volume is still at a quite bearish "0.7". The accumulation/distribution rating is a modestly bullish "C+", still a good sign.
It should go without saying that since NUAN has been news-driven since CI began to take an interest, if more "news" [of a-n-y type] from OR about CI, his involvement in NUAN, or even with AAPL's Cook come to the fore, all bets are off.
We've witnessed what effect even a hint of a headline can do to NUAN...both good and not-so-good.
opal: Thank you for the thoughtful, clearly stated post & to the responses, too. I'm not one for following stock activists but I had been watching CI, as an AAPL long, when he started making noise about NUAN. I decided to jump in at $13.04 when NUAN was bouncing off $13 and I am so glad that I did. I actually think we'll go to at least $18 or maybe even get bought out. First, though, I think CI effects a change in CEO...
Nice to hear from you, Opal. To put NUAN'S future in simple terms, it will " churn" as you pointed out for month's to come. I firmly believe CI will have no problem frustrating the new retail shareholders like the many new posters on this board. Yes, he's down but it's a blip on his radar. When he and the BOD's decide to shake it, there will be no warning and likely most will be gone by then. Be prepared for a long cold winter and spring. Enjoy your weekend too!