Monday, January 08, 2007

Nanometrics (NANO - Nasdaq)

Nanometrics touched new lows this year, but still reacting to the $7.93 support made in the last week of 2006, and probably finding key support at these prices.

Nanometrics widened its losses in the last two quarters, coming from a profitable 2005 year, into a loss in 2006. Maybe 2007 hold better days for NANO but its still a risk buying the stock at these levels, until we see a change in the trend, even if it starts looking to be undervalued.

Meanwhile, the PXN (Powershares Lux Nanotech) etf, is still negative for this year but today's move could represent the end of this recent sell-off. The next days should be important to prove this point:

Technically this etf is getting close to its annual trend line support, and I will update its long term chart later this week.

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