On the Ichimoku chart, 3PAR (PAR) manage to touch the resistance level at 9.67
This is a nice level to watch as we can see the following from the chart:
1. Tenkan sen has started to turn up and the price level is above it; suggest that the short term uptrend may have started
On the Ichimoku chart, I have a cross for the Tenkan sen and Kijun sen.
However, the thing to note is Kijun sen is sloping downwards.
Palm provide one of the best case study for Ichimoku as a trend trading tool.
If you have gotten the stock back in end 2008 or early 2009, you will have ride it to the top at around $17 from somewhere between $3 or $6.
Here’s one for the bearish trade. Do note that it is used for trend trading.