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.
Silicon Graphics upgraded to Buy with $12 target at Needham Needham upgraded Silicon Graphics to Buy from Hold with a $12 price target citing improving federal spending and an attractive risk/reward profile. The firm believes shares offer "significant" upside potential should the company execute on even a subset of its major initiatives.