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?)
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.
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.
