Last weeks action found a bounce at the 50% fibanacci retracement which also appears to be previous resistance point.
Although ADX has not yet given us an imminent crossover nor Macd has yet to reverse the slope of decline is lessning.
So oscillators are showing slower decline and we are at w3hat may well be a bouncing point.
I'm thinking 13.38-13.40 is a good "add to" spot with a GTC order - realizing it mat take a while to finish its sudeways action.
This stock is ahead of many in its earnings recovery.I think it is primarily the result of the two excellent acquisitions made in Q3 of 2008.I have two other stocks in the 13.oo range and they are no where near annualized earnings of 1.00.
Makes me think there will be a quick break out in here and it will be a fun ride.
The other case is earnings disappoint and the decline continues.
On a weekly chart it looks like ANEN has gone through a five wave up and is in the ending of a C wave ABC corrective wave.
If this is the case - buying at a bottom of a b should give us a nice 3 up going into 2010.
If it is to continue its leadership it should revive soon.
This might be a buck over book,but I just can't see any stock with the earnings power - even if it declines a penny over the next 2 quarters as management wisely chases after higher margin products.
If custom products gets traction like they did in December it won't reduce anything and if they gain new projects with long build run times and hhigher margins,we'll have a nice growing book value that goes up 8% a year.
Now that's what I call a nice long term growth stock.
I'll accumulate more on price weakness,and be patient.
Full disclosure I'm long and long love the satellite sector - it just simply is the future of telecom.