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Thursday, May 10, 2007 

Vonage shares were up 10%

Chart courtesy of stockcharts

Finally a good trading session for Vonage stock. VG shares were up today more than 10% closing at 3.38$ after company announced results for the first quarter. Revenue for the first quarter 2007 grew to a record $196 million, a 64% increase from $120 million in the first quarter 2006, driven by strong customer line growth over the course of the year and higher average revenue per line. The daily technical is showing some improvement by the indicators MACD and RSI, with stock having a good performance since the latest sell off on April, however stock needs to break the top of this descending triangle to give more strength and confident to Bulls. This news could be a tone for VG to go up. Keep an eye on VG.

Disclaimer : Trading stocks involves risk, this information should not be viewed as trading recommendations.The charts provided here are not meant for investment purposes and only serve as technical examples.

That's All. Have a nice evening !!!

AC

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  • I'm a 43 year old Independent Trader using proprietary technical analysis with more than 18 years experience of investing in the US stock markets. I started this blog in 2006 simply as a way to share my thoughts about capital, risk management, and trading. My blog contains only my personal opinion and is provided for informational purposes only.

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