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PALM Inc. (PALM) : Strong Bearish Cross

Oct 27, ’09 10:12 PM

PALM Ichimoku’s Chart just had a strong bearish signal.

Yesterday, it has a bearish cross with the Tenkan sen cutting the Kujun sen.

And today, the price has fallen below the kumo support on the Daily Chart.

Suggestion:

- SELL

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Oct 21, ’09 3:07 PM

Palm has been falling for the past 1 week.

With the Stochastic at oversold level, there may be an opportunity for a short term swing trade.

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Sep 22, ’09 6:01 PM

Palm had a nice little rally yesterday with fairly high volume.

I am not sure what causes it. It could be a short squeeze since PALM had recently announced that it is going to issue 16M shares.

But, on the Ichimoku’s chart, we can see that the price did not drop below the Ichimoku’s support level defined by the kumo.