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Wednesday, June 06, 2007 

PCAR shares ready to breakout !!!

Chart courtesy of stockcharts

Shares of Openwave were down nearly 16% today after the software maker's board rejected a partial tender offer from one of its largest shareholders. Shares of Openwave, which have traded between $5.91 and $14.85 over the last 52 weeks ended the session at 8.72$ . Looking at the daily chart the picture is now very different from yesterday, stock turned to negative sentiment with indicators dropping to Bearishs areas. Stock on today session has been supported by the 50 dma line, so pay attention to this support, below 50 dma it's bad for stock. Support at 8.45$ and Resistance now at 8.72$.

Chart courtesy of stockcharts

Keep an eye on PCAR shares tomorrow for a possible breakout over 89$.

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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