3PAR Inc (PAR) : Gap down on open. FY10 guidance lowered.

Storage market continues to be a tough market.

On the Ichimoku chart, even before 3PAR announced its earnings, the counter has been going down since around Jan 6.

With its price below the kumo even before earnings, it is already entrenched heavily in the bear market. Coupled with a gap down opening, I believe 3PAR is heading towards a target price of $9.

By iam802

Trend trading with Ichimoku