For a very short term play, Nokia seems to be bouncing off its low at $12.00
For now, it is unlikely that it will move up too much given its recent announcement on earnings and margins cut.
Let’s see if it can reach $12.28
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Radware Ltd (RDWR) : Watch the Kumo Support
Apr 29, ’10 9:49 PM
The previous post for a breakout to a higher high after earnings did not materialise.
The kumo provide critical support at $19.00 on opening and at this moment RDWR is rebounding off the session low.
Earnings report beats estimate and current price could be a good entry.
I see RDWR trade above $21 (support level) and with the leading kumo still trending up and the thick kumo support, I do not see this as a bearish trend.
However, if it breaks support, do be careful of a major trend change.
Note:
- Radware is having an Analyst Day on May 3 (Next Monday)
- Expect fresh analysts report to be coming out.
Melco Crown Entertainment Ltd (MPEL) : Watch the Support
Apr 28, ’10 10:37 PM
As highlighted previously, MPEL has a bearish cross as indicated by the Tenkan sen and Kijun sen.
With the earnings released, the counter did not move up much despite a positive pre-market movement.
A key support to look for is now at around 4.62.
If it breaks this level, we have another bearish confirmation from the Chikou Span cutting the price level.
