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Palm : Holding well on the Weekly

A quick update.

Despite yesterday dips on lots of counters, Palm is holding up well enough on the Weekly Chart.

Here we can see that its current closing price is just above a key resistant level back in November 2007.

What I will like to see is for it to establish a new trading range from $9 to $9.50 onwards, especially after Palm Pre is launched.

Holding at a higher trading range will give me comfort to hold Palm for a longer time. After which, it will come down to fundamentals like revenue,  cashflow etc.

 

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