Need a gift for the nerd that has everything? How about a supercomputer? These babies have the power of 50 million laptops. That should get them the video-game edge they crave. There is a catch, though. They tend to be a little expensive. Oh, and they take up quite a bit of space.
Maybe as a second choice you could give them the thrill of supercomputing, but with a supercomputer stock. (NASDAQ:CRAY) may just do the trick -- and just in time for the holidays as the stock looks ready for a price breakout higher.
The chart above shows that the price has pulled back from its March high at $42. But after a long consolidation, Cray again began to move higher in mid October. The current consolidation makes for both a possible Measured Move higher to about 42.50 plus a cup-and-handle pattern with a target at 44.50. With the momentum indicator RSI also holding in the bullish zone, it creates a mosaic of technical signals for more upside. The low of the consolidation is also a natural stop level for the trade.