IWOV - Interwoven, Inc. $94.50 +5.13 (+21.81)

Interwoven, Inc. provides enterprise-class Web content management software. TeamSite, their core product, is used to control various stages of web site creation including development, management and deployment. This stock had its debut on October 8th, in an Internet-friendly atmosphere and IWOV fetched a nice premium on its first day of trading. The stock dipped to a low of $36.75 ten days later. Then the madness started. Shares of IWOV hit an all-time high of $200.00 on March 14th. However, the market began to question the valuations of Internet stocks and IWOV took a dive. On April 17th, IWOV hit an intra-day low of $41.63 representing an 79% correction. The stock has now created a strong base at $80 and the insiders are done selling for a while. We feel that IWOV could be ready to make a split run. The Company has set a 2:1 split with a July 13th payable date. The Company is expected to announce earnings on July 18th and this should provide additional momentum. Going forward, IWOV has support at $90 with stronger support at the 5-dma, currently at $85. There is resistance at Thursday's intra-day high of $97 and then the century mark. Use a bounce off of $90 or a move above $97 on volume greater than 250,000 shares to open new positions. Confirm market sentiment and sector direction before starting new plays. Plan to exit by July 12th.

Picked on Jun 22nd @ $94.50 Change since picked +0.00