Trade Idea - Brocade Communications
Sunday, August 12, 2007
Brocade Communications shares were up 9% to $6.94, with more than 15 million shares traded, showing a strong performance and confidence by investors in a bad day for overall stocks. Looking at the daily chart, stock bounce off recent lows with MACD and RSI improving their levels. BRCD has now a big resistance at $7 and could be a good test for Bulls. Overall, stock still trading in a Bear Market. So, keep an eye on BRCD tomorrow.
Disclaimer : Trading stocks involves risk, this information should not be viewed as trading recommendations.The charts provided here are not meant for investment purposes and only serve as technical example.
Labels: BRCD
