Upmove in APKT

Mid-Day Minute for Thu January 26th 2012
by Mike Paulenoff, www.MPTrader.com

Be alerted when Mike posts an article

While the overall market waffles and appears a bit exhausted "up here," we continue to like Acme Packet (APKT). Both my near- and intermediate-term work argue that APKT ended a major bear phase at its Jan 4 low at 25.20 and that the upmove to Tuesday's high at 31.78 represents the first up-leg of a new bull-recovery period.

This recovery appears destined for 40.00 and then 45.00-47.00 thereafter. Initial near-term support resides at 29.40/0, which if violated will call for a deeper retracement of the January upmove.

Mike Paulenoff is author of MPTrader.com (www.mptrader.com), a real-time diary of his technical analysis and trading alerts on ETFs covering metals, energy, equity indices, currencies, Treasuries, and specific industries and international regions. Sign up for a Free 15-day trial to Mike's ETF & Stock Trading Diary.

 << January
2012		 >> 
SMTWTFS
1234567
891011121314
15161718192021
22232425262728
293031 

FREE Weekly Wizards Newsletter

Weekly Wizards Newsletter
  • Stock & ETF Picks by Pros
  • Technical Market Analysis
  • Weekly Swing Trading Ideas

Featured in Barron's

Featured in Barron's