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.