3PAR open with a price below the kumo. Support broke. Bearish
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Sinovac Biotech Ltd (SVA) : Price still above Tenkan sen
Jan 22, ’10 6:36 PM
I have deliberated on posting on SVA after news of its offering came out.
With yesterday closing, the chart still shows that the price level is intact despite the dilution due to the new shares offering.
We can see that the price started off low (gap down) and went on to close high. The final closing price sits on top of the Tenkan sen (red line).
Let’s see if it has any chance to break the 7.80 resistance (possibly through good financial results?)
Rackspace Inc (RAX) : Ascending Triangle, Trend intact
Jan 22, ’10 6:30 PM
It seems like RAX is forming an ascending triangle on the chart.
Yesterday’s market did not cause it to drop a lot.
Most importantly, on the Ichimoku chart, the closing price did not cut the Tenkan sen (red line) which will suggest that the trend is intact.
