This is my slow and steady long position.
TIBCO (TIBX) has just breakout of its 52 week resistance.
We will know by the end of the day if it comes with greater volume and if it manage to stay above the previous 52 week high.
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Tibco Software (TIBX) : Kumo bounce off
Jan 11, ’11 9:05 AM
TIBX is making a very nice move again.
This is one of the longest position that I have held.
We can see that the Chikou Span suggested a support level of around $19 and the despite the drop in December, the Chikou Span did not pierce through the price level there.
The price consolidate near $19 and bounce off the kumo support on high volume. This is a good sign for the stock.
Next target is for it to break 52 weeks high.
