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Mellanox director buys nearly $2 M in shares

Posted
11/15/2013 12:52:00 PM
By: InvestorsObserver
Referenced Stocks:MLNX

Mellanox director buys nearly $2 M in shares

Bobby Raines 11/15/2013

Dov Baharav, who sits on the board of directors at Mellanox Technologies ( MLNX ) , bought 57,739 shares of the company's common stock on Nov. 12. AT $34.64 per share, Baharav paid a total of $1,998,969.

IK-> The technicals for MLNX ($40.01 up $4.67) are bearish with an upward trend. Recent support has been around $33.61 and the stock is above recent resistance. Standard & Poor's does not follow the stock. Look at the Dec. 29/33 bull-put spread for a 20-cent credit. That's a 5.26% return and the stock has to fall 17.5% to cause a problem.  [InvestorsKeyhole, Various news and data services]