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Tech

3PAR (PAR) : Bullish Signals

I have noticed that 3PAR’s price has refused to go down in recent weeks.

And just on Monday, Dec 7, 3PAR breakout of its resistance at 10.57.

In fact from the chart, we can see that there has been some buying since Dec 2.

My only suspicion is either the market makers are trying to push it up as part of 3PAR’s investors conferences or there someone has taken noticed of 3PAR’s value.

The risk remains for 3PAR.

1. It is a low volume stock.

2. No news on sales in Asia Pacific

Apart from that, the chart has shown that it has breakout of the resistance at $10.57  with the next resistance at $11.34

The price level is also above the kumo now which adds weight to the bullish side of the trade.

2009Dec-3par Inc-800x600