The Play Of The Day
07:55 EST 08-31-99
Good Morning Stock Fans!
Today's Play of the Day is: TIBICO Software (NASDAQ:TBIX)
Since I am quite sure with over 50 IPO's going public after this one did on 07-14-99. I am quite sure many of you have never heard of (NASDAQ:TIBX) or if you have you have forgotten all about it. Since lately many investors are starting to see the niche that (NASDAQ:TIBX) has carved out here is a quick overview of TIBICO Software (NASDAQ:TIBX)
About TIBCO Software Inc.
TIBCO Software Inc. (NASDAQ:TIBX) is a leading provider of real-time infrastructure software for the Internet and enterprise. Recently ranked by IDC as the number one provider in the Businessware category, TIBCO's products and services enable computer applications and platforms to communicate efficiently across networks, including the Internet. The TIB/ActiveEnterprise(TM) product suite facilitates the distribution of information and integration of business processes by connecting applications to a network through patented technology called The Information Bus(R) or TIB(R). TIB technology was first used to "digitize" Wall Street in the 1980s and has since been adopted in diverse industries, including manufacturing, energy, telecommunications, and electronic commerce. TIBCO Software's global client base includes Cisco Systems, Yahoo!, Sun Microsystems, NEC, 3Com, Bechtel, MCM, Philips, PageNet, and Netscape. Headquartered in Palo Alto, California, TIBCO Software can be reached at (650) 846-1000 or on the Web at www.tibico.com
TIBCO software (NASDAQ:TIBX) is a market pioneer and a leader in Businessware; an industry which is clearly positioned to deliver a better way as a general-purpose system to satisfy the customer need for application integration, event driven processing and business process automation press release. TIBCO Software (NASDAQ:TIBX) companies face the challenge of integrating their systems to provide new Internet-based services. Looking forward, companies like TIBCO Software (NASDAQ:TIBX) should prosper as this market segment grows to five billion dollars in revenues by 2003, with a compound annual growth rate of 76.5 percent.
With those types of numbers possible in the not to distant near future and the growth of this up and coming business it looks to me as if TIBICO Software (NASDAQ:TBIX) is positioned perfectly to increase it value now on such a positive outlook for the future.
Looking at the IPO debut of (NASDAQ:TIBX) we see that on 07-14-99. In a fairly Internet IPO friendly NASDAQ market. (NASDAQ:TIBX) came public with its first public trade on the NASDAQ market of $32.50. It would go on to trade big volume of 11,973,400 on its way to go as high as $40.00 before it closed its first day of public trading at $32.3750
However, over the next 2 months or so (NASDAQ:TIBX) would sell down as most of the July IPO NASDAQ Internet related offerings did to reach a low of $20.00 dollars even on 08-05-99. Since then (NASDAQ:TIBX) has started to make its way back up. TIBICO Software coming off of $20.00 on 08-05-99 encountered extremely strong resistance at $22.50. Once it broke that last week it made it way to $26.00. However going over $26.00 created another area of strong resistence for (NASDAQ:TIBX)
Finally, yesterday in a terrible NASDAQ market TIBICO Software (NASDAQ:TIBX) on 554,000 shares just over it 30 day average volume of 550,000 shares (NASDAQ:TIBX) broke through a triple area of resistence to close up $1.75 dollars a shre at $27.75
The reason I am picking this one today is because it looks very much like (NASDAQ:TIBX) has entered into an updraft and now getting back to as high as it was on 07-22-99 looks to go higher very soon. I also like it potential as it has been as high as $40.00 dollars a share and at its worst price it has never been less then $20.00 a shre or 50% off it high. The VOLUME on (NASDAQ:TIBX) fits the normal criteria I look for of over 500,000 shares daily as well.
The fact that (NASDAQ:TIBX) broke through $26.00 a triple bottom gives us a great area of support that protects us here. In short I am very bullish on this one right now to make it way back up over $30.00 as more investors discover again that (NASDAQ:TIBX) is a great value at current levels.
Buy Area: $26.93750 - $27.8750
Sell Stop: $25.93750
TARGET: $32.00 +
Have a great day!
More to come....