Monday, March 27, 2006

NVAX and $NNZ

Four months ago I was tracking the heaviest stock on the Merrill Lynch Nanotech index, NVAX (Nanovax), and mentioned in the end of November that the 50 day moving average was being used as a good support and the stock looked nice for an entry point at the 3 dollar per share value.

Now we can see how the 50 day moving average did indeed hold the price of this stock with more than 150% gains in the last 4 months:


Remember that nanotechnology is for the longterm and some of this stocks are good for the next couple of years, even if some of them can't get that far.
While I believe in protective stops to avoid future Bear rallies or Bear markets, it's best not to use stop gains since much of the profit comes from these mid/long term moves.

The $NNZ is in new highs and if the S&P500 and NASDAQ go up this week we might finally have a breakout confirmation:


And some other good looking nanotech index stocks charts:

5 Comments:

Blogger Mohamad Mova Al 'Afghani said...

Hi,

Do you have any idea whether specific SEC rules applies to these companies? I am curious on how the environmental impact assessment is made. Thanks

5:52 AM  
Blogger Mohamad Mova Al 'Afghani said...

Hi,

Do you have any idea whether specific SEC rules applies to these companies? I am curious on how the environmental impact assessment is made. Thanks

5:53 AM  
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