Stock Alert: Novellus Tries To Hold Support

Novellus Systems, Inc. NVLS is getting smacked today on the back of a poor outlook. The stock is trading at $31.90, -3.88 (-10.83%). This area is interesting for one main reason. On the daily chart, it is a key support level. The big question is, will it hold? Watch for this level to possibly see a solid bounce higher. While the stock market is moving slightly higher, NVLS is near the lows. Wall Street is definitely not cheering their future outlook. Gareth Soloway Chief Market Strategist www.InTheMoneyStocks.com