EMC reached resistance here
EMC Corp - EMC
Is up against an old trendline across the "highest daily lows" of the two best rallies in the last two years.
Let's see how it reacts to this level, but if you own EMC shares this is a decent level to sell calls or to swap into something else that is oversold.
Take a look at oil shares or some consumer goods shares now that the market is overbought.
I'm suggesting EMC might be a relative underperformer in the next wave or may just need to consolidate these gains for the next few months. If you see this trendline violated, then I may have to reconsider.
Tim 1/16/2014 12:22PM EST
Is up against an old trendline across the "highest daily lows" of the two best rallies in the last two years.
Let's see how it reacts to this level, but if you own EMC shares this is a decent level to sell calls or to swap into something else that is oversold.
Take a look at oil shares or some consumer goods shares now that the market is overbought.
I'm suggesting EMC might be a relative underperformer in the next wave or may just need to consolidate these gains for the next few months. If you see this trendline violated, then I may have to reconsider.
Tim 1/16/2014 12:22PM EST
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