TIBX has a bullish gap up yesterday (shortly after its gap up during December 2009).
TIBX has been trading above the kumo since the beginning of the year and with yesterday’s gap up, it break through the resistance at 9.77
Near term resistance is at $10.00 which is its 52 week high.
A breakthrough above that coupled with good quarterly results will give us a good indication of IT spending.
3PAR may continue on its downtrend after bouncing off its thin kumo support at around $10.80
For the past 2 trading sessions, the chart shows a doji (look at red arrows) which could be a signal to a reversal of the prior trend.
In this case, 2 doji appearing right after a rebound could suggest that the price will not go higher.
And if rebound fails, we can definitely see a lower high being formed again (look at the green arrows).
Already we have 1 confirmation of a bearish cross with the Tenkan sen cutting the Kijun sen (highlighted in yelllow)
A break below yesterday’s low will be a clear sign that the price will not hold.
