Cherokee Int’l Corp. (Nasdaq:CHRK) is another stock with an attractive chart.   Cherokee Int’l, not to be confused with clothier Cherokee Inc. (Nasdaq:CHKE), designs and manufactures custom power supplies for original equipment manufacturers (OEMs).  Not exactly sexy stuff, but with a chart like CHRK in a market like this, who cares?

Get trend analysis for CHRK from Ino.com.

Cherokee has posted mixed financial results.  Revenues last quarter were up year-over-year but down sequentially.  CHRK earned $.01 in the three month period, versus losses last year.  Backlog is up, but book-to-bill ratio is down.

Perhaps investors are excited about the pending merger with Lineage Power Corp., which is expected to close at any time.

Regardless of the reason, CHRK’s stock trend is positive.  Ino.com’s trend measurement formula scores it at +90 on a scale of -100 to +100, and CHRK has spent most of October and November above its 50-day moving average.  That’s pretty remarkable for a tech stock in this environment.

DISCLOSURE: No position.

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