Stock Alert: Novellus Tries To Hold Support
Novellus Systems, Inc. (NASDAQ: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.
Chief Market Strategist