PPR - Netgear, Inc. (NTGR) Pocket Pivot from a Cup-with-Handle Set-Up
We like this pocket pivot buy point in Netgear, Inc. (NTGR). This came right up through the 10-day moving average on a very nice pocket pivot volume signature and also indicates a breakout from a cup-with-handle base set-up. We like this here with the idea that it should hold the 10-day moving average, roughly, around 27.23. The stock is relatively thin, trading 352,000 shares a day on average, and has nearly 10 days of short interest in it, or about 3.5 million shares sold short against a float of 34 million shares, roughly 10%. Earnings have turned positive as of late, and NTGR is expected to earn $1.67 in 2010, a 146% increase, with a new high in earnings of $2.10 a share expected in 2011.
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