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Stock Picks – ASM International NV-ASMI

December 3, 2009  |   By Sam Collins, Chief Technical Analyst, InvestorPlace

 

ASM International NV (ASMI) — This Netherlands-based wafer equipment manufacturer is in a powerful bull market that began in March at under $7.    

ASMI Chart 

Chart Legend

Since October, volume has poured into ASMI, driving it to the top of its bull channel. 

But even at this level, the stochastic issued a buy signal, so the stock looks like it’s headed higher.

S&P has a four-star “buy” on ASMI with a target of $25, but the technical target is $30.

Investors may want to take a half position now and bring it to a full position on a pullback to $22.

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