BRCD upgrade by Citigroup
Monday, September 17, 2007
Brocade Communications shares were up today more than 1% to $7.46 after a Citigroup analyst upgraded the stock to "Buy" from "Hold," citing that he expects the company to gain from pent-up demand for some of its products. The technical chart show that stock is trading in a Beraish Market due to the fact that its 50 dma is trading below its 200 dma, however we're seing a rebound from recent lows. MACD is back above 0 and RSI have reached Bullish territory area, so a close above $7.50, could push till $8 with a fast movement, so keep an BRCD for a possible breakout over $7.5. Support is now at $7.17 ( 50 dma ) and resistance at $7.50.
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 examples.
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 examples.
Labels: BRCD
