Alcatel-Lucent SA (NYSE: ALU) has been on a stock on fire. After managing to pull a rabbit out of the hat with its earnings report, shares have continued to recover. Its stock chart was getting interesting with a move above $2.50 just yesterday. In fact, this was getting back to the levels not seen since early November when the rug was yanked out from under investors.
All good things must come to an end. Some contract award concerns may be at issue here, but there is a really a lack of fresh news. It was less than two weeks ago when the report took shares to $2.19 from $1.94 and shares have literally only been down on one day (by two whole cents per ADR).
Yesterday may have just marked the peak of buying, but today looks like some serious money was able to be taken off the table when you consider how much higher the trading volume has been in the last two weeks with shares rising each day.
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