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News Breaks
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October 27, 2009
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| 14:15 EDT |  | MOLX |
| theflyonthewall.com: | Molex: Earnings release technical preview, bull pattern, gap risk, float-skew | | BULLISH CASE: There is a potential bullish flag on the daily chart that will become active on a breakout above $22. Upside potential for the pattern is to the $23.50 to $24 area. On better than expected news/outlook the stock could trade to the upper limit of the very short-term bearish price channel at $22.02. On a bullish breakout above the price channel the following resistance levels would become upside objectives: $22.50, $22.85, $23.20, $23.60, $24.00, $24.40, $24.80, $25.20, $25.63. BEARISH CASE: On worse than expected news/outlook the stock could trade to the lower limit of the price channel at $21.04. On a bearish breakdown below the price channel the following support levels would become downside objectives: $20.60, $20.20, $19.85, $19.43, $18.94, $18.65, $18.30, $17.98, $17.66, $17.28. NOTE: Moderate short-base in terms of days to cover at 3, but with a very large 9.3% of the float short. Traders are positioned more for negative news. Reactions on a surprise, especially a positive one given the potential bullish pattern and float-skew, have a high probability of being extreme in duration and price. Very high gap risk. :theflyonthewall.com |
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