I agree. A few days back i said the breakout point was 22 and we needed to hold on a closing basis or else the stock is going to breakdown technically. It has and if we dont regain above 22 on a close soon, its bad news.
I will not enter until that happens.
Almost 3 million shares traded yesterday so somebody listened to them. They might not be as well known as Piper but if their thesis makes sense, the street took the hold rating to heart.
Also Pipers rating is old news, the reiteration is basically to save face. Besides, their one year target is only 24, not 30 so how much upside does Piper really think INVN has??? 3 points in 12 months...thats not much. This stock can easily go back to 18 very quickly.
Can anyone post yesterdays hold rating?
Cramer is right , HOWEVER, stocks move up in anticipation of large contracts and higher earnings, thats why INVN is being bought. Anyone who has ever bought a stock after a news release of a " new contract", knows what its like to watch their stock drop ..why? Its a classic sell the news.
So Cramer may be right about INVN needing large contracts but what kind of insight is that ! Every company needs a large contract to keep going up.
Low volume selling is minutia, same with low volume advances. If we close down today on low volume, it means absolutely nothing. We traded over 4 million shares on the breakout day, that means there was buying with CONVICTION.. INVN is in good shape.
This was a true Breakout when we got the high volume close over 22. This is what technical guys like to see from a chart perspective. INVN kept getting hit whenever it reached the mid 21's by shorts because that was a true resistance area. New resistance is now 24.
With the stock acting strong and the ST MIcro issue behind it, look for its IBD 100 rating jump much higher, that in itself will be a big catalyst. Alot of hedge funds will want to own this stock.
Its NOT going to happen Qcom Licenses their technology a d then receives royalties. They are not interested in buying a company such as INVN.
INVN was down almost 5% on strong volume, i didnt see many other stocks down nearly that much.the naz wasnt down that much either, INVN was weak from the start.
I tnink INVN is a good company with some cool products, the street wants to know if INVN can make enough sales in order to justify a price over 22 .
They have been spamming big time and that is a sign that going to that website will not only infect your computer with a nasty virus but also potentially steal personal data.
The chart pattern looks as if its setting up for another move after consolidation. Today may prove to be an inflection point ..unless it breaks down, see if we break 20.60 today and hold above.
This stock proved it cant break 22 and its because of lack of earnings growth. They keep saying next week, next month, next year, and investors are sick of the run around. They have a small niche that can easily be duplicated, they are facing rough sea's ahead.