Palm Inc. (PALM) : Bullish Tekan sen – Kijun sen cross

Palm has a nice little rally last Friday; from 11.02 to around 12.50

The end of day chart shows a bullish Tenkan sen – Kijun sen cross just below the kumo.

This suggest that there may be resistance ahead (possibly at $12.60).

At the same time, this rally brings back memories of PALM at 1 year ago (when Pre was launched). Palm went from $6 to around $9 within a month.

What to look out for:

– more  distribution deals with carriers outside of US

– ‘killer-apps’ for webOS

– further out, webOS in other form factor (other forms of devices apart from cellphones)

– possible deals with media companies

By iam802

Trend trading with Ichimoku