Tibco Software (TIBX) : Consolidation. Tenkan sen holds.

TIBX is not the ‘hot favourite’ stock that you see on CANSlim where it can just surge ahead.

A tech stock, its peak is way back in the early 2000s.

And here’s something to rejoice. Since it’s gap up, it has manage to hold on to a fairly tight trading range.

Highest is around $19 and the lowest is around $17.35 where it bounces off the Tenkan sen.

The Ichimoku chart for TIBX is fairly easy to read.

It has been on a nice uptrend since June with little heavy selling along the way. I believe it will hold at the current price level.

Possible catalyst:

– improving margins

– increase revenue

– possible M&A candidate (HPQ??)

By iam802

Trend trading with Ichimoku