Tibco Software, Inc (TIBX): After hours drop on Q2 forecasts


This is a follow up post on TIBX.

TIBX crept higher over the last 1-2 weeks since I last took profit around March 14.

Earnings was out yesterday after trading hours. Q1 revenue meets expectations, but Q2 forecast is not as rosy. And that causes after hours trading to plunge from $26.27 to $24.80

If TIBX fails to hold on to the gap support at around $25.15, it will probably fall off the kumo support.


Tibco Software Inc (TIBX): Time to take profit


Tibco Software (TIBX) is among the ‘longest’ stock that I have held.

Currently, TIBX is trading at around $24.

On the Ichimoky Daily Chart, we can see that

1. The Chikou Span may pierce through the price level. While this has not happen yet, and there is a chance it will bounce off the support at around $24

2. For the past 3 trading days, TIBX has been trading below the Kijun sen (trendline). This suggest weakness.

3. On top of that, we can see that the leading kumo is flattening which suggest that the momentum is probably slowing down. This is further supported by the flat Tenkan sen and Kijun sen as well.

4. With a flattening price, we can see that the Tenkan sen and Kijun sen is very close together. Any sharp downturn will likely see a bearish cross confirmation.

It is with the above in mind, that I decided to take my profit off the table and close my long position on TIBX.


Tibco Software Inc. (TIBX) : Bullish Gap Up

TIBX has a bullish gap up yesterday (shortly after its gap up during December 2009).

TIBX has been trading above the kumo since the beginning of the year and with yesterday’s gap up, it break through the resistance at 9.77

Near term resistance is at $10.00 which is its 52 week high.

A breakthrough above that coupled with good quarterly results will give us a good indication of IT spending.