Having spotted a possible reversal on 3PAR and watching how it got dumped as it comes down breaking through the 11.25 support, Â there is very little left for 3PAR.
The next level of support is identified by the kumo (a very thin layer); which suggest weak support.
If it goes below, there is a high chance that Tenkan sen – Kijun sen will exhibit a bearish cross. Couple it with the price going below the kumo, we will have a strong confirmation for a bearish outlook for 3PAR.
I think if the kumo fails to hold, the target price on the downside is around $9.05
Couple of questions came to mind.
- How is 3PAR’s channel partner doing in APAC?
- How about the ‘new’ Regional Sales Director for APAC?
- Are 3PAR gaining grounds or sales in APAC?