EMC, is a buy based on several technical indicators.
Note 1: heavy support at the $95.00. going back several months and tested that level 1/22/99, 2/9/99, 3/4/99, 4/20/99, and 5/5/99.
Note 2: As of last Fridays close, Stochastics was turning up from oversold levels, RSI was turning up from oversold levels, and most promising of all MACD was pointing to a bullish divergence.
Went long today 200shrs @97.50, target $120.00 (which is resistance), with a 5% trailing stop.
It's close above $100.00 today is very positive, and with a two for one split coming up, I'm looking for a good pop to the upside.
As for growth EMC is the leader in High End Disk Arrays.
Happy Trading!!! |
