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Tech

Netgear Inc. (NTGR) : Bullish Breakthrough

Netgear has a bullish breakthrough yesterday.

From the chart, we can see that there seems to be a cup-and-handle formation with successful breakout.

Using Ichimoku, we can clearly see how 19.47 was resisted around 3 times.

And when the price level breaks through that level, we can see that the Chikou Span (identified by the green line) shoots up without any resistance ahead.

Tenkan sen and Kijun sen also had a bullish crossover above the kumo which will make this signal even stronger.

2009Nov-Netgear Inc-800x600