RNWK - Breakout the ascending triangle !!!!
Shares of Realnetworks hit new high today closing at 11.40 +4.50% after the company said it has joined with big-box retailer Best Buy to launch a new Best Buy-branded digital music store powered by Real's Rhapsody digital subscription service. The online component of the package, titled Best Buy Digital Music Store, is being done through a partnership with RealNetworks Inc.'s Rhapsody music service.
The technical chart above show that the stock is now in a rally after breakout today a key resistance level ($11) with big volume, also the overall technical picture show that the stock still in Bull market trading above 50 day and 200 day moving average. It'll be not a surprise if we see at this level a big short covering, because exist a high level of shorts.
The technical chart above show that the stock is now in a rally after breakout today a key resistance level ($11) with big volume, also the overall technical picture show that the stock still in Bull market trading above 50 day and 200 day moving average. It'll be not a surprise if we see at this level a big short covering, because exist a high level of shorts.
Disclaimer : Trading stocks involves risk, this information should not be viewed as trading recommendations.
That's All. Have a great evening.
AC
