PALM, STX - Possible new play

Possible New Play

PALM ($23.33) - nice setup - Bearish Play. Candlestick, RSI and stochastics indicators showed a sell signal. PALM had been on a bullish trend (and gaining market share) due to its Treo handset (compete with RIMM blackberry) and the problems faced by RIMM in its court case. Now that RIMM court case had been settled, RIMM is set to take back some of its market share from PALM. There are other new competitors coming to the market, MOT & NOK.

I think PALM is due for correction.
Target 1 = $21.97
Target 2 = $19.25
Stop Loss = above $24.91


STX ($26.45) - also Bearish
Target 1 = $23.29
Stop Loss = above $27.74


Have Profitable Trades everyday

- PersianCat04 (Millionaire-in-progress)