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Beacon Research Issues TraderNotes on EWIN, FLEX, MCHP, CTSH, MXIM for January 15, 2008

Today’s TraderNotes include: eWorld Interactive, Inc. (OTCBB: EWIN), Flextronics International, Ltd. (Nasdaq: FLEX), Microchip Technology (Nasdaq: MCHP), Cognizant Technology Solutions Corporation (Nasdaq: CTSH), Maxim Integrated Products, Inc. (MXIM)  

 

eWorld Interactive, Inc. (EWIN) TraderNote – EWIN Gains Strong Potential from Fast-Growing Chinese and Other Asian Markets

 

eWorld Interactive, Inc. (EWIN) closed yesterday at 0.20, a slight negative change of 0.02, or a decrease of 9.09% from the previous close of 0.22.   eWorld Interactive ("eWorld") is a second-generation media and entertainment portal in Mainland China and other Asian markets. The company has assembled a portfolio of multi-media content and applications that provide advertising access to a large customer base in the region. eWorld is a compelling place for individuals to interact with top media franchises as well as create and share their videos, photos, music, and online experiences. Offline products and video production capabilities allow the company to create higher value offerings for content providers and advertisers.  In yesterday's daily chart, EWIN's RSI reflects an almost oversold condition with a reading of 35.13, with the curve almost touching the 30% threshold to confirm a buying signal upon crossing this level downwards and reversing back through it.  Slow Stochastics indicator in the same chart reflects readings of 25.93 %K and 29.14 %D, still in the negative zone but almost indicating an oversold condition to signal a buying move upon crossing the 20% level downwards and reversing back.  If prices remain above the 0.200 psychological support, next resistance to watch is 0.250 before rising back to the 0.275 level.  MACD histogram reading presently at -0.007 should recover to the positive zone above the 0 level to confirm a reversal to the bullish direction.  

 

Flextronics International, Ltd. (FLEX) TraderNote – FLEX Well-positioned in the Computer, Telecommunications, Automotive and Medical Devices Markets     

 

Flextronics International, Ltd. (FLEX) closed yesterday at 11.03, a positive change of 0.29 or an increase of 2.70% from the previous close of 10.74.   Flextronics International, Ltd. provides design and electronics manufacturing services to original equipment manufacturers of a range of products in the computing; mobile; consumer digital; telecommunications infrastructure; industrial, semiconductor, and white goods; automotive, marine, and aerospace; and medical devices.  Its services include printed circuit board (PCB) and flexible circuit fabrication services; and systems assembly and manufacturing services consisting of electronic enclosures and related products and services, computer-aided testing services for assembled printed circuit boards, systems and subsystems, and materials procurement and inventory management services. The company also provides logistics services, such as freight forwarding, warehousing/inventory management, and outbound/e-commerce solutions; and after-sales services, including product repair, remanufacturing and maintenance at repair depots, logistics and parts management, returns processing, warehousing, and engineering change management.  In yesterday's daily chart, FLEX's slow Stochastics indicator with readings of 21.06 %K and 19.29 %D indicate an oversold condition after a recent crossover with the 20% level from below, to reflect a buying signal in the near-term.  RSI likewise indicates a leaning towards an oversold condition with a recent touch of the 30% level placing the figure at 38.05 at present.  MACD is still in the negative zone with histogram reading of -0.098 indicating a slight bearish signal before a sign of a trend reversal.   

 

Microchip Technology (MCHP) TraderNote – MCHP Boosted by Strong Demand for Its Microcontroller Analog, Interface and Memory Products

 

Microchip Tehcnology (MCHP) closed yesterday at 29.74, a positive change of 1.42 or an increase of 5.01% from the previous close of 28.32.   Microchip Technology Incorporated engages in the development and manufacture of semiconductor products for various embedded control applications. Its product portfolio comprises 8-and 16-bit PIC microcontrollers and 16-bit dsPIC digital signal controllers, which feature onboard flash memory technology; and linear, mixed-signal, power management, thermal management, battery management, and interface devices. The company's product portfolio includes development tools, microcontroller analog and interface products, and memory products. It markets its products through sales personnel and distributors to the automotive, communications, computing, consumer, and industrial control markets in the Americas, Europe, and Asia.  In yesterday's daily chart, MCHP's RSI indicator reflects a reading of 45.23, slightly in the negative zone but with the line steeply curved towards the neutral level of 50%.  Slow Stochastics indicator has readings of 17.83 %K and 13.33 %D, almost indicating an oversold condition upon crossing the 20% level upwards to signal a buying move for the stock.  With a slight technical gap formed in the chart yesterday from Jan. 11's close at 28.32 and yesterday's open at 29.05, a bullish signal is indicated as initiated by an upward reversal.  A break of the 30.00 psychological resistance level will find prices at 31.00 to stay at a range within the 50% retracement level of its two-week range.    

 

Cognizant Technology Solutions Corporation (CTSH) TraderNote – CTSH Gains Ground From Its 52-Week Low at 27.07 Hit Last Friday

 

Cognizant Technology Solutions Corporation (CTSH) closed yesterday at 28.35, a positive change of 1.24 or an increase of 4.57% from the previous close of 27.11.  Cognizant Technology Solutions Corporation provides information technology (IT) consulting and technology services in North America, Europe, and Asia. Its services include business process consulting; IT strategy consulting; technology consulting; application design, development, integration, and re-engineering; complex custom systems development; data warehousing/business intelligence; customer relationship management (CRM) and enterprise resource planning (ERP) system implementation; and software testing services. The company also offers outsourcing services, including application maintenance, CRM and ERP maintenance, IT infrastructure outsourcing, and business process outsourcing. Cognizant Technology Solutions offers its services to various markets, such as financial services, healthcare, manufacturing, retail and logistics, telecommunications, information services, media, and high technology.  In CTSH's daily chart yesterday, RSI indicator is in the negative zone of 34.81, with a leaning towards an almost oversold condition with the recent touch of the 30% level to confirm a buying signal.  Slow Stochastics likewise is still in the negative zone with readings of 7.15 %K and 8.01 %D, to indicate an oversold condition upon rising back above the 20% level to indicate a buying signal.  With share prices registering its 52-week low at 27.07 last Jan. 11, CTSH established a significant support level as buying entry point if remains intact in the next sessions.  A break of the psychological resistance of 29.00 can open up the 30.00 spot before rising up to the trading range right before the technical gap level formed by Nov. 5's close at 39.61 and Nov. 6's open at 32.90. 

 

Maxim Integrated Products, Inc. (MXIM) TraderNote – MXIM Strongly-based with Approximately 35,000 Customers Worldwide

 

Maxim Integrated Products, Inc. (MXIM) closed yesterday at 23.94, a positive change of 0.35 or an increase of 1.46% from the previous close of 23.59.   Maxim Integrated Products, Inc. is a worldwide leader in the design, development, and manufacture of the analog, mixed-signal, high-frequency, and digital circuits that enable all four of these key interactions.  They serve approximately 35,000 customers worldwide.  In 2001, Maxim acquired Dallas Semiconductor. Their mission is to continuously invent high-quality analog and mixed-signal engineering solutions that add value to their worldwide customers' microprocessor-based electronics. They have consistently served both their customers and their stockholders by meeting their cost and performance goals, minimizing time-to-market, and maximizing their engineering productivity.  In yesterday's daily chart, MXIM's RSI indicator reflects a reading of 39.97, with no indication of an exhausted condition.  MACD is in the negative zone with readings of -0.337 12-day EMA and -0.106 26-day EMA with recent decrease of moving averages.  Slow Stochastics is still in the negative zone with readings below the 20% threshold at 19.10 %K and 16.73 %D, almost confirming an oversold condition upon crossing the 20% level upwards to indicate a buying signal. 

 

 

 

Beacon Equity Research Disclosure

 

The analysts contributing to this report do not hold any shares of eWorld Interactive (OTCBB: EWIN).  Additionally the analysts contributing to this report certify that the views expressed herein accurately reflect the analysts' personal views as to the subject securities and issuers. The analyst(s) writing this report recognize and aspire to all of the CFA Institute Guidelines for Independent Research. Beacon Equity Research (“Beacon”) certifies that no part of the analysts' compensation was, is, or will be, directly or indirectly, related to the specific recommendation or views expressed by the analysts in the report. Beacon Equity Research has not been compensated  one thousand five hundred dollars from a non-controlling 3rd party for enrollment of EWIN in its research program.  This report is based on data obtained from sources we believe to be reliable, but is not guaranteed as to accuracy and does not purport to be complete. As such, the report should not be construed as advice designed to meet the particular investment needs of any investor. Any opinions expressed herein are subject to change.
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