Wednesday, October 6, 2010

EMC Corp to Consolidate in the Near Future

Date: October 6, 2010
Current Price: $20.08
Target Price: $18.40 and above
Periods: less than 1 months
Confident Level: 4 (1-5)

I believe EMC Corporation will move towards the support of the uptrend line of $18.40 before it resume its rally.

EMC Corporation has been moving up agressively since Aug 27 to Sept 24 -approximately 22 days of rally. It is about time for EMC to consolidate before it moves higher. EMC need to consolidate and move down to around $18.50 to flush down the weak player.

I am not into this stock at the moment as I have invested all my money in DryShips which I strongly believe will double or quadrapple in the next 12 months.

For those who like to buy EMC at least wait until it finishes it consolidation first before jumping in.

No comments:

Post a Comment

Related Posts Plugin for WordPress, Blogger...