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News Breaks | | | | January 25, 2013 | | 09:54 EDT |  | SGI | Silicon Graphics spikes higher, bullish pattern on weekly chart active
The stock is up over 9.4% this morning, continuing a strong recent recover off multi-year lows. There already was an active bullish pattern on the weekly chart, and this move up confirms it. The pattern is a bullish, inverted, head and shoulders. Upside potential for that pattern is to the $15 area. That level is where price began a sharp decline last February. Sterne Agee upgraded the stock earlier today to Buy, with a $19 price target. | |
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