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Short This Semi Stock
3/13/2011 9:00:00 PM
By: Sam Collins
National Semiconductor Corp. (NYSE: NSM ) - This major semiconductor company, which focuses on analog and power management, has rallied from a low of $12 to almost $16 since September.
But the stock's recent break below its major bullish support line and its 50-day moving average, which was accompanied by heavy volume, suggests that Friday's rally is merely a rebound that will shortly run out of steam. Insiders have been sellers in the past three months.
The stochastic is oversold and gave a buy signal recently, but this could provide short-sellers with an opportunity to short the stock at close to $15. The target for a short sale on NSM is $13.
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