Netgear Inc. (NTGR) : Kumo support and Cisco’s problems

Netgear fell about 9% during the first half of the day due to Cisco’s revenue call that their home networking unit (Linksys) was down 8% for period ending May 1.

My bet is Netgear (NTGR) will not suffer from this revenue drop and could even be eating into Cisco’s share.

From the Ichimoku chart, it is supported right at the kumo level during the first half and started to move up during the second-half of the day.


Barrons has an update. Atheros (ATHR) has updated and do not see any weakeness in their business moving forward this year.


Netgear Inc (NTGR) : Breakout on inline guidance

Netgear just reported the following

–First Quarter 2010 Financial Highlights: – Net revenue of $211.6 million, compared to $152.0 million in the comparable prior year quarter, 39% year-over-year growth – Non-GAAP net income of $17.1 million, compared to net income of $1.4 million in the comparable prior year quarter – Non-GAAP diluted earnings per share of $0.48, compared to diluted earnings per share of $0.04 in the comparable prior year quarter – Company expects second quarter 2010 net revenue to be in the range of $190 million to $200 million, with non-GAAP operating margin in the range of 11% to 12%

Source : MarketWatch

From the Ichimoku chart, we can see how it has breakout a few times and go higher.

Noticed how it hit the kumo and bounces off especially when the kumo support is fairly thick?

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Netgear Inc. (NTGR) : Bullish Breakthrough

Netgear has a bullish breakthrough yesterday.

From the chart, we can see that there seems to be a cup-and-handle formation with successful breakout.

Using Ichimoku, we can clearly see how 19.47 was resisted around 3 times.

And when the price level breaks through that level, we can see that the Chikou Span (identified by the green line) shoots up without any resistance ahead.

Tenkan sen and Kijun sen also had a bullish crossover above the kumo which will make this signal even stronger.

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