Last Week’s Best Performing PowerRatings Stock: OVTI
Today’s
PowerRatings article looks at the best performing
low PowerRating stock for the past five
days: OmniVision Technologies Inc.
(
OVTI |
Quote |
Chart |
News |
PowerRating)
On 11/27/06, OVTI made new 10-day highs. This coincided with a
PowerRating of
1 suggesting it was likely to underperform the S&P 500 over
the next five days.
Also we can use a technical indicator to further
investigate positions. The 200-day simple
moving average
(not shown)
can quickly tell us the direction of the trend. In this case, OVTI is
clearly above its 200-day moving average
telling us that it is in a confirmed downtrend. This indicator along with
a PowerRating of 1 made OVTI a strong sell on 11/27/06.
Over the next five sessions, a short position in OVTI gained 26.06%.
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Reminder: We are in no way recommending the purchase or short sale of these
stocks. This article is intended for education purposes only. Trading should be based on your own understanding of market conditions,
price patterns and risk; our information is designed to contribute to your
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