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Technology Stocks : Semi Equipment Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Donald Wennerstrom who wrote (51359)	3/6/2011 2:07:24 PM
From: Donald Wennerstrom	1 Recommendation Read Replies (1) \| Respond to of 95406

Novellus Clears Pattern, Lingers In Buying Range By VICTOR REKLAITIS, INVESTOR'S BUSINESS DAILY Posted 03/04/2011 06:47 PM ET After struggling to get traction early in the week, Novellus Systems (NVLS) ended last week above a 40.41 buy point from a three-weeks-tight pattern. The producer of chipmaking gear jumped above that level in strong trade Wednesday. It has climbed less than 5% beyond 40.41, so it's still in a possible buying range. The San Jose, Calif., company and its peers got a lift Wednesday from an encouraging report from a trade group, Semiconductor Equipment and Materials International. The SEMI report predicted that spending on chipmaking projects could rise 22% in 2011, while spending on chip equipment production could increase 28%. Novellus is hitting new multiyear highs, as is Ultratech (UTEK) — another San Jose-based producer of chipmaking gear in the Stocks In The News lineup. Ultratech has rebounded off support just above its 10-week moving average. The stock didn't quite drop all the way to that benchmark line in the past two weeks, so its action can't be viewed as a conventional 10-week rebound. investors.com