Advent Software, Inc. (ADVS) is on the move today after an upgrade was issued earlier this morning. The stock is up over 6% in early morning trading on volume larger than the average. ADVS was added to the MSW Index three weeks ago at $28.42 as a 200-day moving average play (similar to STRL – up over 40% in two months as another 200-d m.a. play).
Below is the analysis over the past three weeks as the stock has been on the index.
4/15/06
ADVS – 28.18, up a penny this week as it continues to hold the 50-d and 200-d moving averages. The trend buy is now with anticipation of a short term move above $30 (towards $34). Hold (always sell on a breakdown below your sell stop – below the 200-d m.a.)
4/8/06
ADVS – 28.17, sitting on the 200-d m.a. on the weekly chart and slightly above the 50-d m.a. on the daily chart. A trend buyer could enter right now with anticipation of a move higher (similar to STRL). Rating Buy to Hold (always sell on a breakdown below your sell stop – below the 200-d m.a.)
4/1/06
ADVS – 28.42, I bought the stock myself. I don’t know if it will work out but I placed money on the idea and have rules to protect the downside. As you have been noticing, I have been making several 200-d m.a. momentum buys in recent months. A twelve month price target will be from $38-$40 (FYI: I got in lower than the Index price as I bought on Thursday).
It will be interesting to see where the stock goes from here as I am looking at a short term target of $34 and a longer term target above $38 towards $40.
Piranha
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