OPWV

[David Randolph]

Openwave Systems Incorporated (OPWV). The Group's principal activity is to provide open standards software products and services to mobile and wireline carriers, Internet service providers, broadband providers and handset manufactures.

I've picked this stock from our «Story Behind the Move» board, the author was chakkar. Please read his post.

The long term chart looks like this:



And the medium term is this:



I believe OPWV is going to blow of this top. Momentum has picked up, volume is increasing and the fundamentals and prospects are attractive.

chakkar made great comments on the stock but is expecting for a pullback to buy, a pullback that never comes ... when a man wants to buy a stock but he can't that's because a lot of men and women are competing with him to buy.

I have a way to solve chakkar's dilemma. You close your eyes and buy. Buy it now.


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[David Randolph]

OPWV

[David Randolph]

When OPWV definitely breaks the $17 level as I think it will (because of the bullish triangle formation which shows higher lows and equal highs, suggesting accumulation) it will turn out to have a technical price target of $29 a share. It is worth waiting a bit.

[David Randolph]

Consolidation with lower volume and small candles suggests another long white marubozu is coming, projecting OPWV to new highs.

[David Randolph]

Not much info from today's session on OPWV. Made a new intraday high but couldn't keep it because the general market faltered. I'll hold.

[David Randolph]

Didn't breakout. Red marubozu yesterday. I have to sell OPWV today at the open.

[RichL74]

I agree David. The 50 day EMA crossed over the current value of OPWV and the MACD trend is sliding near the horizon.

[David Randolph]

We can make many kinds of mistakes when we sell a stock, but there are two that are much common. The first is not to sell at a small loss and leave a large chunk of the portfolio in the stock. The other is buying with sound motives but get bored and sell just before the stock shots up. Both mistakes should be corrected.

That's what I'm doing today with OPWV. I have to buy back the stock, at a higher price, because it finally broke out a 2 year resistance level, which is now support. What I've learned from this experience is that when a stock strikes at a resistance level when it is already overextended it will probably fall back a little, building a base for the big push.



So I'm buying OPWV today at the open, relying that resistance at $17.70 will become a made of steel support in the future.

Everyday I will analyze OPWV after the market close until I sell the stock. I always tell I'm going to sell before I actually take action. You just have to follow the answers to this post.

Everyday our team scans and filters 11000 stocks to come up with the 3 best stocks to buy on a short term basis. We run a diversified public portfolio which is up 133% since May 2005. We have great traders in our community which take advantage of short term opportunities in stocks.

If you want to join our community and receive our free newsletter, please register.

[basanlas]

David,

Did you buy OPWV?

I don't see an update here or on the open trades column on the home page.

basanlas

[rocket8]

ouch!

[OhadOnFire]

Hi David,

Could you please reply if you bought this stock or not?
...and if you didnot - why?

Thanks,
Ohad

[stocky]

Portfolio, it seems is not updated. OPWV not shown most probably.

[OhadOnFire]

But there are no replies from David if he keeps it or sells...

[Pete]

Stocky is right. Portfolio is not correct. David said he was buying so I guess he bought it otherwise he would mentioned it. I bought it at 17.70

Anyway, I am getting butchered here   None of the stock in my portfolio is in green. Back in red..... big time now. 
P

[rocket8]

i bought OPWV at $17.49.
it did drop a lot but not below SMA 9.
i will hold till the end of the day to see what dave says.
i already sold DNDN according to dave's guidance on it.