VMware , Inc. provides virtualization and cloud infrastructure solutions in the United States and internationally. Sales growth is stable, P/E is not overvalued, debt/equity is low. What is interesting< many traders bet on downside, as Shortinterest is pretty high 23% of all shares. Break of $62 may force these guys to cover their shorts and accelerate price to our target.
Stock is broken in long-term, below 200 , but recent action since February give us some hope. Now, we have Cup&Handle pattern and break of this tight consolidation will trigger more buying.
Trade and Risk Management:
Break of $60.30 will trigger Entry Long, with tight Stop below $58.65 and Target at $66 (measured move of this pattern)