Mark - thanks, you're right, we will have to wait to hear about the design wins for the new products.
Neo continues to be beat down by sellers. The buyers, at this point, are sitting on their hands waiting to see just how far Neo will drop before jumping in. As usual, Neo will overshoot on the downside, making quick profit opportunities for nimble traders, both on the long and the short side.
Neo is horribly oversold at this point. The only possible explanation I have for the downdraft since the beginning of the year is that one or more big holders decided to take profits on their position.
Over the last 30 days Neo has been the graphics chip company not to own performing worse than all the other major players. See graph: techstocks.com
However, now it has slide to a price level that will start to attract attention, considering the drop-dead gorgeous earnings report that is only a little over two weeks away. Based on the outstanding results reported by box makers, intel and microsoft, I think the results should pleasantly surprise - even the most optimistic.
This week I believe we will see some basing action for this sell-off. Once support is evident and the last of the sellers have thrown in the towel, The pop up may be a lot quicker than the slide down.
vincenzo |
