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Chart Check: WIND




Good to see the charts back. Wind River Systems (WIND) looks like it could be a candidate for you. Any thoughts?


Minyan David

Hey there David,

I hope all is well.

As far as the chart on WIND, I guess I'd rate it technically with an "okay not great." It's up again today but honestly not my kind of chart here. There is obviously a HUGE reversal island back in June and July which should be the next point of resistance. That probably means a trading top will be about 15.25 where it could then consolidate for a while. Notice volume is not confirming at this point either.

I looked through the top few names in the group (not direct competitors necessarily just in the same IBD grouping). Micros Systems (MCRS) looks interesting technically and could break higher. Radiant Systems (RADS) broke out yesterday to the upside. PAR Technology Corp. (PTC) looks interesting as well but probably builds a handle.

I don't follow WIND fundamentally but that's what the charts are saying at least to me.

I ran it by Sanjay (who does follow the name) and here was his take: "For those who don't know, keep in mind first that the company reports EPS tonight. I don't like EPS plays unless they are almost like sure things such as (Google (GOOG), Broadcom (BRCM), Marvell Technology Group (MRVL) et al). Having said that they have a history of beating the Street but their EPS numbers are very irregular. Take a look at past four quarters to see what I am talking about: $0.04, $0.07, $0.03, $0.07."

Hope that helps...we'll see how it reacts to the report.



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