[Entering Position in Powerwave Technologies (PWAV)]
Dear Member:
Powerwave Technologies (PWAV) has recently come off a long term double bottom on the weekly chart. It has moved up on strong volume today and was recently reiterated as an overweight by Lehman Bros with their target set at $7.50. I like the stock where it is around $6.12 with an initial exit at about $5.90. That gives a nice potential reward to risk ratio.
I am placing a limit order to buy at $6.14 or better for the day.
DISCLOSURE: At the time of publication, I have no position in PWAV.
Sincerely,
Bill Kraft
|
