RightNow Technologies (RNOW) : Consolidation

RightNow (RNOW) has consolidated since I sighted its bullish move on July 15.

With the earnings just 2 days from now (July 29), there is a good chance that it may breakout of this consolidation and move higher.

The Tenkan sen has risen closer to the price level. And the kumo is also suggesting good support at $12.


Note: As with all earnings play, we never know how the market will react. The broader market seems also a bit stretched and may see a correction as well.

I am keeping my fingers crossed on this. My bet is for RNOW ability to keep cost under tight control with good revenue reports.

I believe the former, keeping under cost under control, should be easier as the founder Greg Gianforte, has a history of bootstrapping RightNow and bringing it to IPO. I think that is a feat to remember.

Let’s hope such tight controls continue.

By iam802

Trend trading with Ichimoku