"Sanmina-SCI is a leading EMS provider focused on delivering complete end-to-end manufacturing capabilities and highly complex solutions to technology companies around the world." (company website)
SANM 4-month chart
SANM 1-year chart
8 December 2009. I hope I don't regret this! I've been watching SANM for a couple of weeks now and think I see signs of further price gains. It has risen sharply since the March bottom; it recently pulled back below the 50-day moving average; the Bollinger bands have narrowed sharply again for the second time in two months; November earnings were a pleasant surprise against Expectations; it is in its sixth consecutive up-day.
- Percentage price oscillator (PPO) — diverging above the signal line
- Volume — solid volumes on recent price gains
Based on technical analysis, MarketEdge calls SANM an "avoid," despite "mildly improving conditions," noting that it is "overbought" and is "not a buy candidate."
That appeals to the contrarian in me! The last time SANM traded near the $10 level was back in 2008.
10 December 2009. The price rise that I anticipated just isn't happening, so I bailed out to limit the loss.