Technicals of Rambus
By Yaser Anwar, CSC of Equity Investment Ideas
Rambus Inc. (RMBS) has shown very solid support at 22.20 the past few trading days.
Yesterday, the stock gapped up but quickly reversed and began down trending towards the gap. The stock faded into the gap, and filled it entirely not too long after.
We have two things to watch for today:
* A break of support at 22.20 would likely cause a quick move to the next support level at 22. If support at 22 were to break, the gap up from last Thursday would likely fill.
* If support holds at 22.20, the down trend line resistance must be watched carefully. In the event the down trend line resistance is broken, a bullish position should be taken in the stock.
http://www.equityinvestmentideas.blogspot.com/
Rambus Inc. (RMBS) has shown very solid support at 22.20 the past few trading days.
Yesterday, the stock gapped up but quickly reversed and began down trending towards the gap. The stock faded into the gap, and filled it entirely not too long after.
We have two things to watch for today:
* A break of support at 22.20 would likely cause a quick move to the next support level at 22. If support at 22 were to break, the gap up from last Thursday would likely fill.
* If support holds at 22.20, the down trend line resistance must be watched carefully. In the event the down trend line resistance is broken, a bullish position should be taken in the stock.
http://www.equityinvestmentideas.blogspot.com/
posted by douglas mcintyre at 12:14 PM
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