Telvent Could Run Higher
by Sam Collins 06/30/09
Telvent (TLVT) -- This computer services company, which provides software solutions to energy companies, has already risen from under $7 last October to $22. But it is in the soft spot of solutions to meet federal energy regulation.
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The stock has broken through its long-term bearish resistance line at $14, executed a gold cross, and picked up volume.
Its next hurdle is at the triple-top at $26, and if it can close above that line the stock could run to much higher levels.
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Sam Collins is a registered, fee-based portfolio manager who may be contacted at samailc@cox.net. You can also check out an archive of some of his most recent market outlooks.
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The charts are bullish for both indices, and it looks like they could reach my immediate target.
Thursday's dramatic acceleration, coupled with a 'key reversal day' on Monday, leads me to the conclusion that the markets will continue to rise.
Our internal indicators are now telling us that stocks are still a good value at this level.
The recent pullback in the First Trust ISE-Revere Natural Gas Index Fund (FCG) could offer a good opportunity to accumulate shares.
Unless the S&P 500 closes below 1,020, investors should be buying into this decline.
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