CNXT - Sector: Technology --- Industry: Semiconductors

[setravis]

It's working hard at it....

52wk Range: 1.60 - 3.90
Volume: 13,514,284
Avg Vol (3m): 15,392,000

Technicals
Most Actives

Last Price Quote is:
11.05%above 13-day MA
15.35%above 50-day MA
RS Rating: 92 

Fundamentals
Key Data:
Market Cap (M): $854.42 
P/E Ratio: NA 
PEG Ratio: 4.85 
Next Earnings: 01/24/2007
Last Analyst Rating: Hold

[ScottishTrader]

indeed it is setravis!!!  But we got our close above 2.26, which should now act as support.  I think 2.40 is not too far off, in fact the whole semi sector looks like it will run till christmas!  Lets hope so 

By the way, FNSR is also looking very well set up right now too...

[tokyopua]

Some movement came today though.  Yesterdays candle made a nice little gap fill, and CNXT was looking strong above 2.26 resistance today.  However, pulled back and closed right at 2.26.  Still, if we break that (and I think we will), the 2.66 symmetrical triangle target is IN PLAY, and not a huge amount of resistance between here and 2.50 either.  Lets go CNXT!!!

Tokyopua, glad you are in on this one too!!   (by the way, I found out what the pua is all about - f****ing brilliant, laughed my a$$ off, and lets just say i'm starting working on getting myself to gpua status - do you think we should start a "3 stocks on pua"  I seem to be really good at picking them up, but I always seem to crash and burn!!! )  Just gotta keep the head cool

Thanks for the props, ScottishTrader :-)  This has been a good stock for me, managed to profit twice on it so far since I sold and bought back after the gap fill.  I agree with your analysis, and its great we got the close above 2.26 today :-)  I needed that given the schelacking I took today in EMFP (bought recently at .8, sold at .7).

As for PUA, good luck on your quest!    PM me if you have any questions about resources, etc., I have far more expertise there than in trading stocks, lol.

[Melf Elf]

If anyone got stopped out at 2.15, you might want to call your broker and appeal it.  On the 1-Minute chart, it looks like a "bad tick" at 3:59PM.  The Open of that bar was 2.22, as was the close.  There's not other trading anywhere near 2.15.  I suspect that they took it down and whacked somebody's stop, then took it right back up.

Ask your broker to look at the Time & Sales sheet, to see how many trades went off at the 2.15.  If it looks obvious to the broker that you got whacked, he might give you the 2.22.  Just a suggestion.

My stop is 2.13, but even if my stop had been 2.15, I wouldn't have stopped it out on that "bogus" tick.

[Ramsburg]

If anyone got stopped out at 2.15, you might want to call your broker and appeal it.  On the 1-Minute chart, it looks like a "bad tick" at 3:59PM.

Hi Melf, thanks Melf (applaud)
Our stop was not triggered yet, and exactly, that $2.15 print was just a «bad tick».

Update:
About yesterday's session, so far and staying only with the technicals, it was a normal correctional candle for this up going swing, the volume was low, which make sense for a consolidation move, and we are not going to change our plan at this point, our stop remains at $2.15, and if we get stopped here, we'll be already closing a nice profit, so we are not taking any more risks on CNXT.

Trading Plan:
Hold CNXT with a stop @ $2.15 (suggested exit price near $2.45)

Best regards,

[Ramsburg]

Update:
CNXT was down again during Friday's session, and so was its volume, therefore corroborating this retraction as a consolidation move after the recent rally.

This article was published Thursday near the close, by Motley Fool:
- Is Conexant Worth the Risk?
The article is a bit bearish, alerting investors to some debt issues and more, nothing new at all, but a negative alert always helps the selling pressure...

Despite the mid term bullish reversal on the chart, we'll stand with this tight trading plan, with the perhaps «too» protective trailing stop @ $2.15, so we'll most likely get stopped unless CNXT turnaround really quick.

Trading Plan:
Hold CNXT with a stop @ $2.15 (suggested exit price near $2.45)

Best regards,

[Melf Elf]

Sold remaining 75% CNXT at 2.13.  Gain: 11.5%. 

Gain on the trade: 13.2%

Thank you, Frederick.  Nice job!  Applause.

[Ramsburg]

Sold remaining 75% CNXT at 2.13.  Gain: 11.5%. 

Gain on the trade: 13.2%

Thank you, Frederick.  Nice job!  Applause.

Thanks Melf,

We sold it @ $2.15 following the plan.

[ScottishTrader]

CNXT deserves an update here - still holding onto my shares after that re-test of 2.13-2.14 support (looked sketchy, but ended up holding very nicely)  CNXT should be set up for a nice rally to new highs from here - everything looks good, with resistance at 2.27 and 2.30.  However, I was just a little surprised - they released this PR this morning, and it really didn't do a whole lot for the PPS:

ELCON's Complaint Dismissed: No Civil Rights for Inventors
http://biz.yahoo.com/prnews/061121/latu096.html?.v=77

They won the civil lawsuit (I'm not sure how much it would have cost them if they lost) whcih I would have thought would give them a nice pop, and while it was up, volume seems to be pretty low for CNXT - much lower on this upswing than the last.  Also the article was worded awfully strangely, making it sound like they had basically fleeced this inventor through the might of corporate law

Oh well, still waiting for a break above 2.30, my stop remains at 2.11.

[setravis]

CNXT Threads have been merged.
Happy Thanksgiving !

Good luck trading to all.......

[ScottishTrader]

sold the remainder of my CNXT shares today @ 2.23 for a 9.8% gain 

Event though today is a historically slow day for the markets, my feeling is it is TOO slow for CNXT.  It may well rally further from here, but I feel its strength is a little weak right now, and I would rather put my money to work elsewhare.  Still an overall gain of about 10% on th trade is nothing to sniff at....

[ScottishTrader]

CNXT update:

If anyone hasn't seen it, CNXT looks like it is building a textbook cup n handle formation here.  A breakout of the amll falling wedge its in right now and it should be off to the races.  Currenly Bid 2.16, Ask 2.18 in the PM.

[setravis]

CNXT update:

If anyone hasn't seen it, CNXT looks like it is building a textbook cup n handle formation here.  A breakout of the amll falling wedge its in right now and it should be off to the races.  Currenly Bid 2.16, Ask 2.18 in the PM.

Oversold in an uptrend....... 
Oh yes, we have seen it !
Thanks for the update ScottishTrader.....Applaud

Cup with Handle (Continuation)
The Cup with Handle is a bullish continuation pattern that marks a consolidation period followed by a breakout. It was developed by William O'Neil and introduced in his 1988 book, How to Make Money in Stocks.

As its name implies, there are two parts to the pattern: the cup and the handle. The cup forms after an advance and looks like a bowl or rounding bottom. As the cup is completed, a trading range develops on the right hand side and the handle is formed. A subsequent breakout from the handle's trading range signals a continuation of the prior advance.

As with most chart patterns, it is more important to capture the essence of the pattern than the particulars. The cup is a bowl-shaped consolidation and the handle is a short pullback followed by a breakout with expanding volume. A cup retracement of 62% may not fit the pattern requirements, but a particular stock's pattern may still capture the essence of the Cup with Handle.

Examples below, to give you a better view of the pattern...

[setravis]

Press Release Source: Conexant Systems, Inc.


Conexant Sets Date for Q1FY07 Earnings Conference Call
Friday January 12, 8:00 am ET


NEWPORT BEACH, Calif.--(BUSINESS WIRE)--Conexant Systems, Inc. (NASDAQ:CNXT - News), a worldwide leader in semiconductor solutions for broadband communications and the digital home, invites financial analysts, members of the media and the public to participate in a conference call announcing results for the first fiscal quarter of 2007. The conference call will take place on Thursday, January 25, 2007, at 5:00 p.m. Eastern Time / 2:00 p.m. Pacific Time.


To listen to the conference call via telephone, dial 866-650-4882 (in the US and Canada) or 706-679-7338 (from other international locations); security code: Conexant. To listen via the Internet, visit the Investor Relations section of Conexant's Web site at www.conexant.com/ir. Playback of the conference call will be available shortly after the call concludes and will be accessible on Conexant's Web site at www.conexant.com/ir or by calling 800-642-1687 (in the US and Canada) or 706-645-9291 (from other international locations); pass code: 6377639.

About Conexant

Conexant's innovative semiconductor solutions are driving broadband communications and digital home networks worldwide. The company has leveraged its expertise and leadership position in modem technologies to enable more Internet connections than all of its competitors combined, and continues to develop highly integrated silicon solutions for broadband data and media processing networks.

Key products include client-side xDSL and cable modem solutions, home network processors, broadcast video encoders and decoders, digital set-top box components and systems solutions, and dial-up modems. Conexant's suite of networking components includes a leadership portfolio of IEEE 802.11-compliant WLAN chipsets, software and reference designs, as well as solutions for applications based on HomePlug® and HomePNA(TM). The company also offers a complete line of asymmetric and symmetric DSL central office solutions, which are used by service providers worldwide to deliver broadband data, voice, and video over copper telephone lines.

Conexant is a fabless semiconductor company with an annual revenue run-rate in excess of $1 billion. The company has approximately 3,200 employees worldwide, and is headquartered in Newport Beach, Calif. To learn more, please visit www.conexant.com.

Safe Harbor Statement

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: This release includes forward-looking statements intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally can be identified by phrases such as Conexant or its management "believes," "expects," "anticipates," "foresees," "forecasts," "estimates" or other words or phrases of similar import. Similarly, statements in this release that describe our business strategy, outlook, objectives, plans, intentions or goals also are forward-looking statements. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements.

These risks and uncertainties include, but are not limited to: the risk that capital needed for our business and to repay our indebtedness will not be available when needed; the risk that the value of our common stock may be adversely affected by market volatility; general economic and political conditions and conditions in the markets we address; the substantial losses we have incurred; the cyclical nature of the semiconductor industry and the markets addressed by our products and our customers' products; continuing volatility in the technology sector and the semiconductor industry; demand for and market acceptance of our new and existing products; our successful development of new products; the timing of our new product introductions and our product quality; our ability to anticipate trends and develop products for which there will be market demand; the availability of manufacturing capacity; pricing pressures and other competitive factors; changes in our product mix; product obsolescence; the ability of our customers to manage inventory; our ability to develop and implement new technologies and to obtain protection for the related intellectual property; the uncertainties of litigation, including claims of infringement of third-party intellectual property rights or demands that we license third-party technology, and the demands it may place on the time and attention of our management and the expense it may place on our company; and possible disruptions in commerce related to terrorist activity or armed conflict, as well as other risks and uncertainties, including those detailed from time to time in our Securities and Exchange Commission filings.

The forward-looking statements are made only as of the date hereof. We undertake no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise.

Conexant is a registered trademark of Conexant Systems, Inc. Other brands and names contained in this release are the property of their respective owners.


Contact:
Conexant
Editorial Contact:
Gwen Carlson, 949-483-7363
or
Investor Relations Contact:
Bruce Thomas, 949-483-2698

--------------------------------------------------------------------------------
Source: Conexant Systems, Inc.

[ScottishTrader]

CNXT in a bit of trouble as it broke down tfrom its ascending trendline on Thursday.  Rallied strongly on friday to recover some of that lost ground, but it still has its work cut out for it.  The two spike highs to 2.36 look a lot more like a double top now.  However short term it has been forming a falling wedge.  An upside breakout of this wedge would get it back above its trendline.  Support @ 1.90, resistance @ 2.02-05, 2.10, 2,20.  CNXT definitely has its work cut out for it.