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Technology Stocks : Atmel - the trend is about to change
ATML 8.1400.0%Apr 12 5:00 PM EST
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To: Mario who wrote (9627)4/15/1999 5:48:00 AM
From: Michael Sphar  Read Replies (1) of 13565
 
Hi Mario, Been distracted with April 15th activities...Nice move today! Closing above that overhead line is meaningful and very encouraging longer term. However, there is a band of overhead resistance that extends from 19 up towards 21. In order for this stock to run it has to break through that full band width. Today was just a reasonably good start. I think the perverse thing, ie most likely to happen, is for the stock to show weakness after a reasonably good sounding quarter report, resulting in yet more oscillations albeit with higher bases.

I think the general trend in semiconductors is showing more health and gathering steam slowly. This bodes well long term but it doesn't equate to rocket fuel now. I think ATML is benefitting from some speculative cash repositioning from the bluer chip rich valuations end (intc, lltc, etc.) towards the lower end, good for ATML short term. If they play their cards right, meaning execute well, manage their debt, and broaden their product base with non-commodity priced product they should do well. I don't expect a quick return to the 1996-like mania levels. Anyway that type of action would be a signal to get out.
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