Tuesday, August 22, 2006

Adding ENER



My stock of the day is Energy Conversion Devices (ENER). The stock looks like it has bottomed and is breaking back above its overhead 50-day moving average. Money flow has also turned positive.

The stock has had positive news recently, and this has helped the stock put in a bottom. It has been a steep correction, falling roughly -40% from its May highs (the stock topped along with the market in May).

I think the stock looks good, at least for a rally back up to its 200-day.

long ENER

0 Comments:

Post a Comment

<< Home