Veeco Instruments Stock Plummets Despite Major Contract Wins

Veeco Instruments Inc. finds itself in a perplexing market position as its shares face significant downward pressure despite securing substantial semiconductor equipment contracts. The stock closed yesterday’s trading session at $28.75, marking a 1.41% decline. The performance over the past month appears even more concerning, with shares shedding more than 13% of their value during this four-week period.

From a technical analysis perspective, Veeco’s chart patterns are generating clear bearish signals. Both short-term and long-term moving averages currently indicate selling pressure. The stock has declined 13.14% since reaching a pivot top on October 2, with technical indicators showing no evidence of an impending trend reversal. Market observers are now questioning when the security might Read more...