This coming week should be key...
Technically speaking...we are right on the 50 DMA, below the 10 DMA by 2 points...if we cross below current levels, then I would hold any buying in CPQ till the situation gets better on the chart (ie, cross above the 10 DMA again), if we bump above current levels next week, then it could be from there on higher (how far higher I can't predict), I'm long CPQ & SUNW, in addition to others too, however, I mention those two since I was in a similar situation with SUNW technically those past 2 weeks, and before that around the end of last month...it traded above the 10 DMA, then fell to touch the 50 DMA 3-4 times (or just about touch it), just to bounce up and get above the 10 DMA again...It's happened to me with other stocks before, and it proved accurate enough to establish or get out of a position...check the charts for yourself for the past 2 months....a little patience pays...
GO CPQ! |
