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Friday, May 25, 2007 

NTAP Broke down the support

Chart courtesy of stockcharts

Even after today sell off, OVTI stock can be ready to breakout the ascending triangle, due to the fact that today drop was not follwed by volume as chart show. Keep an eye on OVTI for a possible breakout over 15.50$.

Chart courtesy of stockcharts

Network Appliance shares were down 16% during today session closing at after company unexpectedly forecast a downturn in revenue, blaming a slowdown in technology spending in the United States. Looking at the chart we can perspective a possible downtrend in the share price of stock after to have broken down the major support at 34.69$. Support now at 31$.

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 !!!


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About Me

  • I'm a 48 year old Independent Trader using proprietary technical analysis with more than 20 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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