Shares of Novellus Systems Inc (NVLS) printed a new 52-week high of 37, up 2.3% on above the daily average volume. This is bullish from a technical perspective. In fact, as the chart below indicated, NVLS could climb above 40 and test the 7-year high in the coming days. Just so that you know, initially profiled in our February 22, 2010 “Swing Trader Bulletin” NVLS had gained about 63% and remained well position.
Chart 1.1 – Novellus Systems Inc (daily)
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