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Monday, September 24, 2007 

VRSN- Ready to move, EMC - Breakout

Chart courtesy of stockcharts

Looking at the technical chart, stock show a continuation of the uptrend formed in August. The technical chart is still showing buy signal with stock trading above 50 day and 200 day moving averages, and with MACD on top of 0 and K line on top of D line. The momentum in the last two months has been great on Verisign, stock came from $28 to above 34$ and now maybe ready to move up again, with a possible break of the ascending traingle. So, keep an eye on VRSN for a possible breakout over $34.

Chart courtesy of stockcharts

Shares of EMC were up today more than 7% to $20.51 after it was upgraded to "outperform" by Bear Stearns and to "buy" by Citigroup due to the performance of virtualization subsidiary VMware. Stock has broken out a tight consolidation area today and made a new 52 week high during regular session, stock opened ways for new highs.

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 example.

That's All. Have a great 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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