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The Oxen Group is a financial analysis and investment opportunities newsletter-based website run by financial analyst David Ristau and features several other traders. Ristau and team have been working in stocks for several years and has developed a knack for identifying winning short-term and... More
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  • Analog Devices is a Buy for the Day on Positive Isil News 0 comments
    Jun 23, 2009 1:48 AM | about stocks: ADI, ISIL, ORCL

    Yesterday was interesting. Tomorrow, the important home sales and beginning of the FOMC meeting will definitely be market movers. Investors are looking optimistic about the Fed's meeting because the Fed believes the recession will end this late summer, and it should take actions this week that reiterate that feeling. That is why The Oxen Group is somewhat bullish for tomorrow. Additionally, we like the news coming from Isil Corp., in after hours. The company announced that they were raising their revenue guidance from $123-$132 million to $145-$148 million. The company has seen an increase in demand for their products. This should be nice news for all broadline semiconductor companies, including competitor Analog Devices Inc. (NASDAQ:ADI). Isil rose 6% in afterhours, which signals that the stock will pop tomorrow, hopefully bringing up ADI. Additionally, ADI should receive some general tech buzz from the Oracle earnings that are coming tomorrow afternoon about which analysts are bullish. Further, futures on the NASDAQ are currently neutral, as investors are looking for data and news to direct the market tomorrow. The real key to ADI's ability to move up, though, is its technicals. ADI is heavily oversold, and it has moved down 5/7 days. It is very near a lower bollinger band and even slightly undervalued. This means that a lot of buyers could reenter the stock with the bullish broadline semiconductor news coming from Isil. Additionally, investors may be cautious at the start of the day after yesterday's movement and a great price to buy in is very possible. Look for ADI to move up with a possible tech rebound.

    Entry: Enter 5-20 minutes into day.

    Exit: On 2-4% increase from buyin price.

    Resistance: Upper is 25.00

     
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