Strong Bullish Note on Rambus

Discussion in 'Stocks' started by miguel007, Jan 15, 2011.

  1. Sounds good ............

    " I think Rambus Inc. (NASDAQ:RMBS) is setting up for a strong move, probably into the twenty two to twenty five dollar area at first. The stock has been under accumulation for a couple days now and today it broke through two major resistance levels. The momentum is back in this stock. The next major resistance level is around $22.80... so a lot more room on the upside. The volume on accumulation days consistently exceeded the volume on distribution days. That's always a bullish sign. In addition, the technical chart above shows the stock is in a bull market as MACD is on top of signal line, OBV is moving up and Money Flow-Index still climbing both indicating buy. The Stochastic Oscillator is also registering a strong bullish signal as the %K is above the %D. The stock is also on top of 50 day and 200 day moving average showing the stock is in bull market. The stock price can head towards the $22.50/22.80 zone. If this zone is surpassed, getting to $25 would be a possibility. I would not be suprised to see a day with a good sized opening gap up. I hope I am right the stock closely next week. "