NUAN is the provider of the Siri assistant to the Apple iPhone and broke out around the time of the release of the G4. Now it is in a retesting phase and is a lower-risk entry here. Notice how volume is lower on the decline than on the rally, signifying profit-taking by traders, and resting by long term investors. As time develops and the fundamentals confirm the anticipation, NUAN may go on to another run to the highs and beyond. Stop loss parameters (use 3 average daily ranges down from entry) profit parameters (target 3 and 5 average daily ranges up from entry). I think the odds are better than average for this pattern and fundamental scenario.
Comments
timwest
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This stock is still progressing along the projected outline. Not perfect, but not badly either. It could be setting up for another low-risk entry on the long side here in the next few weeks after the volatility drops and you see a weekly range of less than 2 pts. Cheers. Tim Sun, 8:57PM EST Feb 12, 2012
charttrader
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Almost perfect!
timwest
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NUAN is still going along the path outlined in this chart.
charttrader
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following this idea
timwest
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NUAN is still following the projected path....
timwest
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So far, so good. NUAN has reacted solidly at key support to confirm the pattern. Cheers.
timwest
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4:15 PM Nuance Communications (NUAN): FQ4 EPS of $0.42 beats by $0.01. Revenue of 400M (+23% Y/Y) beats by 7M.