3PAR Inc (PAR) : Testing kumo support at 10.70

Having spotted a possible reversal on 3PAR and watching how it got dumped as it comes down breaking through the 11.25 support,  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

Notes :

Couple of questions came to mind.

  1. How is 3PAR’s channel partner doing in APAC?
  2. How about the ‘new’ Regional Sales Director for APAC?
  3. Are 3PAR gaining grounds or sales in APAC?

3PAR (PAR) : Appoints Regional Director of Asia Pacific Sales

This is good news.

Previously, one of the things that I do not like about 3PAR is the appointment of distributor for Asia Pacific without a person at ‘ground zero’ managing it.

APAC is a large region to cover and with each territory, it brings with it different challenges, business climate, and different ways of doing business.

Hopefully, with Vaughan Woods being appointed here, we can see some positive news from the region.

I will be interested to meet up and find out more about 3PAR’s strategy for the region.

What’s next?

Perhaps there will be more  partnership announcements ?

Australia economy is doing relatively well. Expect deals to come in from AU first.