NEW BULLISH Plays

Veeco Instruments - VECO - close: 39.88 change: +0.87 stop: 37.45

Company Description:
Veeco provides the tools to make, measure and visualize today's world-changing technologies. From LED, solar, data storage, semiconductor and wireless to the frontiers of life science, materials science and nanotechnology, Veeco drives the tiny changes that change everything. (source: company press release or website)

Why We Like It:
Technology stocks continue to perform well. I like VECO as a bullish candidate because the trend is up but shares don't look so overbought. The stock broke out over significant resistance about eight days ago. Since that time it has been consolidating sideways. Traders bought the dip on Friday and now VECO is poised to rally higher. I am suggesting small bullish positions now. Our target is $44.00. FYI: The Point & Figure chart is bullish with a $55 target.

Suggested Position: VECO stock @ 39.88(?)

Annotated chart:

Entry on March 23 at $39.88(?)
Earnings Date 04/27/10 (unconfirmed)
Average Daily Volume: 1.7 million
Listed on March 22nd, 2010