Profit_Link
Short

VMW - Potential Short Opportunity

NYSE:VMW   VMWARE INC
Trade Overview

Profit Target = 50% fib retrace (around $142)

Exit signal = Close trade if price closes above $155


Rationale:

- VMW in triangle consolidation pattern (possible continuation pattern)
- Price resistance at $155 (hence using a close above this point as the exit signal)
- Failure to breakout of 1 ATR channel
- Moving averages clearly indicating a downtrend in place
- Overall tech sector is also showing signs of weakness



Comments

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