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Hittite Microwave Anonim Ortaklık Message Board

  • cheapgrowth cheapgrowth Oct 30, 2006 5:47 PM Flag

    bounce or not?

    is it going to bounce up a couple of points tomorrow or will it keep sliding down for few more days/few more points, presenting better buying opp. any thoughts? technicals?

    thx

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    • Technically, I'm expecting 3 black crows candlesticks then forming a bottom at 32-33 then slowing uptrending after election day. Once volume dries up there will be no more sellers and then the big buying spike come in and cause a shark feeding frenzy.

    • I'm not a short player in fact I think it's un-American to bet against the success of any company....But I will say that the news wasn't good and with an average quarter at best coming up in Q4 and the market overextended as it is you don't have the upward potential here for some time...I did sell and my account is now all in cash to see if the market will pull back....

    • If HITT goes down anymore, it will recover very quickly. This pullback is a joke. The market tends to exaggerate these moves but this one is over the top. HITT currently is at its 200 DMA on its daily chart, and its 40 DMA on its weekly chart. These are buy points for institutions and hedgies esp. when a company performs as well as HITT does. In addition, HITT has a lot of support between $32 and $36. This stock first must stabilize and then it can start moving back up. Someone suggested a month.......that sounds about right to me.

    • Its difficult to say with any certainty. There is some support in the charts right below the current price ($33-$34.7), but because the stock has historically been so thinly traded, I'm not sure that technical analysis does a whole lot of good. I think the more important analysis is looking at the percentage drop over the last week (over 30%). I've seen stocks drop this far on mere trading momentum before. After all, there was quite a run-up preceeding all this. but I've never seen a stock drop more than this without some significant downside news (lost a major customer, etc.) or a complete sector meltdown (Internet stocks in 2000). Nothing in their recent news history is that negative, heck it doesn't appear to be at all negative, except that forward guidance was slightly below what one out of several analysist had predicted for Q4 (but beat the others).

      So my guess is that this is the bottom, an artificial bottom at that caused by margin calls and stop losses triggered in Friday's bloodbath. I'm guessing it will spring back up to$38-$39 and settle there for awhile before heading higher again, but that's just a guess.