On the Ichimoku chart, 3PAR (PAR) manage to touch the resistance level at 9.67
This is a nice level to watch as we can see the following from the chart:
1. Tenkan sen has started to turn up and the price level is above it; suggest that the short term uptrend may have started
Storage market continues to be a tough market.
On the Ichimoku chart, even before 3PAR announced its earnings, the counter has been going down since around Jan 6.
With its price below the kumo even before earnings, it is already entrenched heavily in the bear market. Coupled with a gap down opening, I believe 3PAR is heading [...]
3PAR open with a price below the kumo. Support broke. Bearish