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Stock Market & Financial Investment News

News Breaks
July 22, 2014
12:54 EDTVMWVMware technical notes ahead of results
Shares have sharply underperformed in the last three months. Ahead of results the stock is trading up toward the top of the narrow range which has developed over the last ten weeks. The bulk of the range is contained by a low at the $93 area and a high at the $98 area. As we have seen several times in this earnings season, narrow ranges with the right catalyst can lead to very strong post-earnings moves. Technically for the range to be broken it would require a strong move below the low of above the high, and so these boundaries become key. On better than expected news or guidance, a move above $98 on an increasing scale of positive surprise would have $99.24, $102.83, and $106.87 as upside objectives. If the news disappoints, the low at the $93 area would be the first test of support. If that low is broken, supports below as downside objectives would be at $90.93, and then at $87.10 and $85.
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