Motorola breaking out of a downtrend? $MSI
December 17-18 gap is closed, and like I thought it bounced right back. The heavy selling seemed to be sparked by macro sales, but not a lot else changed in this company since.
Both accumulation and price have found support and seem to be reversing, but I would watch for a break below these levels just incase there's more to this picture than we've been hearing.
As for price, I'm watching the $68 level, where I think the rest of the story will be told. Rejection here and I'm looking for it to go to the low 60s, higher and the sky's the limit. I'm setting my stop loss at 64.40, with 64.43 having demonstrated strong support.
Both accumulation and price have found support and seem to be reversing, but I would watch for a break below these levels just incase there's more to this picture than we've been hearing.
As for price, I'm watching the $68 level, where I think the rest of the story will be told. Rejection here and I'm looking for it to go to the low 60s, higher and the sky's the limit. I'm setting my stop loss at 64.40, with 64.43 having demonstrated strong support.
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