Friday, July 21, 2006

Trade Ideas: CVO

Fresh lows in the semiconductor index will weigh heavily on the Tech averages as they struggle to hold recent lows of their own. Even with the broad selling there was some action on the Trade Ideas scan: JTP again featured prominently, but there was as stock which featured a few of times late in 2005 on my parent site - CVO.

Cenveo (CVO) currently trades inside a narrow range, close to the 50-day MA and a 6-month supporting trendline (but below a longer 10-month trendline - see a weekly chart). The channel allows for a relatively low risk entry with a stop at $16.78. The point-n-figure chart has a target of $24.50 but this would be negated on a drop to $16. Earnings are scheduled for August 10th.

Cenveo, Inc. provides print and visual communications services in North America. It operates through two segments: Envelopes, Forms, and Labels; and Commercial Printing. The Envelopes, Forms, and Labels segment manufactures and prints customized envelopes for billing and remittance, and direct mail advertising. It also produces business forms and labels, custom and stock envelopes, and mailers to third-party dealers, such as print distributors, office products suppliers, and office-products retail chains. The Commercial Printing segment prints annual reports, car brochures, brand marketing collateral, specialty packaging, and general commercial printing. It also provides advertising literature, corporate identity materials, calendars, greeting cards, brand marketing materials, catalogs, maps, CD packaging, and direct mail.

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