Great Trades

In addition to the longer term Golden Cross buy signal mentioned before, OVTI triggered a shorter term buy signal today by breaking out from the bull flagg formed during the consolidation over the past 3 weeks. It also broke back above the 20 support level that broke earlier this week, after filling the gap left after the earnings report. You can read more about bull flags here:
http://www.chartpatterns.com/flagsandpennants.htm

Positive comments from Jefferies helped move the stock higher today. Here's what they said, from Briefing.com:
07:15 OVTI OmniVision: Micron's positive outlook likely bodes well for Co and camera phone supply chain - Jefferies (19.10 )

Jefferies believes Micron's (MU 14.14) revenue growth and guidance for its CMOS image sensor business, as well as its positive comments regarding the state of the camera phone market, are a positive for both OVTI and the entire camera phone supply chain. OVTI guided rev growth of only 3-5% Q/Q for its Jan. qtr. ($130-140MM), which they believe may be conservative since it will likely benefit from the atypical seasonal strength that MU is experiencing in the camera phone mkt. Therefore, the firm states that is likely that OTVI should achieve the high end of the range, if not exceed it.

After their blowout earnings report, along with the high short interest, improving fundamentals, and technical buy signals, OVTI looks poised to move higher over coming months.