Our analysis is based on long term trends, and if they are promissing, short term analysis. First, we view the
3 year weekly charts, followed by a 1 year daily chart. This analysis allows you to view the larger picture and trend,
rather than just looking at a short term prospective. This way, you can use short term volatilty to your advantage, if the
long term trend is positive.
You will see a summery of the stock we are analyzing, followed by the 3 year and 1 year charts. At the end, you will see a technical analysis summery. That's it,
to the point technical stock market analysis daily!
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Technical Analysis for February 23 2006
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| STOCK: EMC CORP (EMC) |
WEBSITE: www.emc.com |
| CURRENT PRICE: 13.72 |
TREND: UPTREND SHORT AND LONG TERM |
| TARGET PRICE: N/A |
RECOMMENDATION: BUY |
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Long Term Chart (Weekly 3yr) - To view the bigger picture
Charts Courtesy of StockCharts.com
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Short Term Chart (Daily 1yr) - Where to take a position
Charts Courtesy of StockCharts.com
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EMC, an American technology company seems to be poised for some impressive gains, both on the long and short term outlook. Both of the charts show some fairly bullish signs, and as recently displayed by the stock price, things are just at the start of a healthy run up here. On the long term chart, you can see the formation of a triangle, with higher lows, and this ascending pattern is reaching a pinnacle, and should break in the coming weeks. The MACD is very bullish here. As you can see, the MACD has had a series of higher lows over an extended two year period, and it is just beginning its positive cross over here. The money flows are also showing the flow of money in and out of this stock. Since about October, money flows have been negative, and have recently starting showing signs of potentially reaching positive territory here. A break above the trend line on the chart is also something to watch, which should be apparent in the coming weeks. Any break above would be further positive evidence of a longer term up trend in the stock.
On the short term chart, you can see the price currently at three important points. The price is currently sitting at both its 50 day moving average, as well as its 200 day average. Also, the price is at its downtrend resistance level, and any break above this would signal further short term bullishness in the stock. EMC found support in the low $13 range, and as the price dropped, the MACD was diverging, signalling a bullish up side breakout, which occurred a few trading days ago.
Overall, things are looking very positive with this stock on both the short term and longer term. Any short term weakness should be taken as an opportunity to accumulate, as the longer term picture is positive.
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