[Entering Position in Siliconware Precision Industries Co (SPIL)]
Dear Member:
Siliconware Precision Industries Co (SPIL) has broken above resistance today and appears that it may be on another stairstep up. I like the stock at $8.15 or better. The biggest downside I see is that earnings are scheduled to be announced in a week and sometimes even good earnings can result in a dip in price. If filled, this could be a pretty fast play one way or the other.
I do like what I see in the Nasdaq which, so far, has held at the 50 day moving average. Both the Dow and the SP-500 have managed to hold at the 18 day MA.
If filled, I would exit SPIL on a hit below $7.85 on the downside.
DISCLOSURE: At the time of publication, I have no position in SPIL.
Sincerely,
Bill Kraft
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