Palm Inc. (PALM) : Bullish Tekan sen – Kijun sen cross

Palm has a nice little rally last Friday; from 11.02 to around 12.50

The end of day chart shows a bullish Tenkan sen – Kijun sen cross just below the kumo.

This suggest that there may be resistance ahead (possibly at $12.60).

At the same time, this rally brings back memories of PALM at 1 year ago (when Pre was launched). Palm went from $6 to around $9 within a month.

What to look out for:

– more  distribution deals with carriers outside of US

– ‘killer-apps’ for webOS

– further out, webOS in other form factor (other forms of devices apart from cellphones)

– possible deals with media companies

TA Tech

Palm Inc. (PALM): Rebounce from Ichimoku’s Kumo support

Palm had a nice little rally yesterday with fairly high volume.

I am not sure what causes it. It could be a short squeeze since PALM had recently announced that it is going to issue 16M shares.

But, on the Ichimoku’s chart, we can see that the price did not drop below the Ichimoku’s support level defined by the kumo.

The closing price also pierce through a resistance level at 15.83

Not sure how high it will go. But, there is a possibility that it may break the resistance at 16.57 and head higher; especially if the shortists starts covering. If it breaks that level, it will set another new high for PALM.

2009Sep-Palm Inc-800x600


RightNow (RNOW) : Profit in Q2

RightNow Sees Profit In Q2


Key Points:
– Net income of $36k on revenues of $36.3M; previously $3.1M loss on revenue on same quarter last year.
– third consecutive quarter of profitability for the firm.
– profitability was driven by recurring revenue growth and management of its expenses.
– new and renewing customers in Q2 included Belkin, Bowne, Figi’s, Husqvarna, Jackson Hewitt, K2 Network, The, NetScout, Snapfish and TD Banknorth.