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VSEA None

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Varian Semi. - VSEA - close: 35.17 change: +0.51 stop: 33.45

Company Description:
Varian Semiconductor Equipment Associates, Inc. is the leading producer of ion implantation equipment used in the manufacture of semiconductors. The company is headquartered in Gloucester, Massachusetts, and operates worldwide. (source: company press release or website)

Why We Like It:
VSEA looks like it may have built a significant bottom with its sideways trading over the last six weeks. In just the last couple of days the stock is starting to move higher and pushing past resistance levels at $34.00 and $35.00. Today the stock tried to breakout over its 50-dma but failed. We are suggesting readers buy VSEA if the stock can trade at $35.75, which would be a new six-week high and another breakout attempt past the 50-dma. An alternative entry point to consider would be a dip back toward $34.00. If we are triggered at $35.75 we'll use a stop loss at $33.45. Our target is the $39.75-40.00 range but we will need to watch for potential resistance at the exponential 200-dma and the simple 100-dma. The Point & Figure chart for VSEA has turned bullish and points to a $46 target.

Picked on February xx at $xx.xx <-- see TRIGGER
Change since picked: + 0.00
Earnings Date 04/24/08 (unconfirmed)
Average Daily Volume: 1.5 million
 

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