Tuesday, June 3, 2008

Tele Norte (TNE) and Open Text (OTEX)

Tele Norte (TNE) has rebounded from its previous sell off. The company provides telecommunication services in South America and Brazil in particular. The stock recently bounced off of its 200-day moving price average (blue line). You can also see that it found support in this area in November and December 2007. The stock could back off a bit from here but that would be healthy.

Open Text is consolidating nicely after its' recent breakout. It is currently resting on its 50-day moving price average (not shown). Open Text develops, markets, sells, and supports Enterprise Content Management (ECM) solutions. The company's ECM solutions help customers manage their business content along with revisions and approvals to archiving, and compliance with regulatory requirements.


Disclosure: I own shares of all three of these and so do some clients. Please do your own research before buying any of these stocks and make sure that they are suitable for your investing goals and risk tolerance.

No comments: