Tibco Software Inc. (TIBX) : Bullish Gap Up

TIBX has a bullish gap up yesterday (shortly after its gap up during December 2009).

TIBX has been trading above the kumo since the beginning of the year and with yesterday’s gap up, it break through the resistance at 9.77

Near term resistance is at $10.00 which is its 52 week high.

A breakthrough above that coupled with good quarterly results will give us a good indication of IT spending.

By iam802

Trend trading with Ichimoku