Nova: A New Trend May Have Presented Itself

Nov. 19, 2024 5:56 PM ETNova Ltd. (NVMI) StockNVMI
MarketGyrations
3.15K Followers
(13min)

Summary

  • The latest report came in strong, as did guidance, but the stock could not break out of the downward spiral it seems to be in.
  • The charts suggest the stock may be able to find support that could power a turnaround given the past, but the stock would need to move lower first.
  • Nova has a shot at a strong FY2025 in terms of the top and the bottom line, but there is some uncertainty associated with this outlook.
  • Long Nova has its strengths, but one cannot set aside the way the stock has been going down, something likely to continue in the short term.

Metrology, Dimensional Measurement Concept

Olivier Le Moal

Nova (NASDAQ:NVMI), a supplier of metrology and process control tools for the semiconductor industry, released a strong Q3 FY2024 report last week with better than expected guidance. While it is still early, the outlook for FY2025 suggests next

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