3PAR Inc. (PAR) : Rebound off kumo support with Bullish Engulment

3PAR bounces off the kumo support and previous day candle is showing a bullish engulment; a sign that the bulls will not let it goes down further.

Based on this, couple of things could happen (speculation):

1. Sales is going to meet expectations.

2. More development coming up. (Unlikely to be acquisition)

Edit (Update):

Looking at the Ichimoku chart again, I maintain the view that there is a need to keep a close watch on the Support levels.

The kumo support remains thin, though the leading kumo has developed a fair bit and is showing uptrend movement.

Protect the downside, and ride the upside 🙂

By iam802

Trend trading with Ichimoku