A Stock to Own Heading Into the New Year
by Sam Collins 11/25/09
Free Trading Guides
National Semiconductor Corp. (NSM) -- This leading manufacturer of a broad line of semiconductors, including analog, digital and mixed signal integrated circuits, was trading just below $30 in June 2007.
In October 2008, the stock began a consolidation that evolved into one of the most powerful bull market formations -- the cup-and-handle.
NSM appears now to be at the end of the "handle" as it finds support around its 50-day moving average.
This could be one of those tech stocks that investors would want to accumulate for a possible breakout in late December or January.
Standard & Poor's rates NSM a "four-star buy" with a target of $19. Technically, I see the target for the break at $20.
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