timwest

EMC reached resistance here

EMC (BATS:EMC)  
BATS:EMC   EMC
240 2 3
EMC             Corp - EMC            

Is up against an old trendline across the "highest daily lows" of the two best rallies in the last two years.

Let's see how it reacts to this level, but if you own EMC             shares this is a decent level to sell calls or to swap into something else that is oversold.

Take a look at oil             shares or some consumer goods shares now that the market is overbought.

I'm suggesting EMC             might be a relative underperformer in the next wave or may just need to consolidate these gains for the next few months. If you see this trendline violated, then I may have to reconsider.

Tim 1/16/2014 12:22PM EST
Subscribe to my indicator package KEY HIDDEN LEVELS $20/mo or a discount for a year and join in the trading room KEY HIDDEN LEVELS here at TradingView.com
$24.33 last on Jan 31, 2014, down from $26.33 -- not bad -- I'll re-enter here against this support zone.
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This idea panned out very well.
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