PPR - Altera Corp. (ALTR) Pocket Pivot Buy Point - ALTR
Altera Corp. (ALTR), an enabler of cloud-computing technology that has grown earnings 192% and 190% over the past two quarters, sequentially, got hit this morning when Intel (INTC). a tired old leader of long ago, was downgraded. Since then, the stock has reversed back to the upside on huge buying volume that represents a bona fide pocket pivot volume signature. With the stock coming up off the 10-day moving average and up through the 50-day moving average, we would look to buy the stock here with the idea that it will hold the 50-day line.
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