BRCM jumped 5% after positive earning report but pared some of the initial enthusiasm to close around $6.10 key level. the price now sits above all key EMA's. A move up from here could be worth an options position with upside bias.
3-29 Here's the drill. Nice clearly defined uptrend
channel that? Put in a Double Top and broke its
uptrend to the downside. Now for shorting? Let it
stage a snapback rally up to new resistance at
either the red line around $52.00 or a Fib retracement
zone (notice where the 61.8% zone is? Its at those levels one ...
Reaction to earnings last week has been positive and the move above $44 looks technically significant on higher trading volume.suggested upside potential to $47. May suit credit spread or bought call. Current market conditions merit cautious position sizing
Noisy chart data forcing switch to weekly mode, however, this one appears ready for advancement i/e stochastic break and obv in concert with up volume. Update 12/24. Validated. Hold for the retracement to upside.
nice break today on high vol on good news above 28$ area.
price is moving into opan gap with a nice 15% upside from here
1st target at 30
2nd at 31
final target 32.8 close gap
1st support 28.2-27.8 area
if break sell position and look to renter at 26 strong support area
Welcome to hell. This stock is headed lower based on HnS pattern to the level of $16 and based on flag pattern to the level of $20. Surprisingly the fib retracement for the stock from the 2008 low to the 2011 high, $20 area is the 61.8%. so i believe it will stall their first.