Technical Analysis of Financial Markets

Friday, February 09, 2007

QLogic Corp. (QLGC)

Manufacturer of semiconductor & integrated circuits technology and developer of storage network components, QLogic, has declined 27% in under 3 months and has currently found support at the $18-level. Oversold conditions suggest price action may be poised for a rebound. Initial price target towards 38.2% Fibonacci extension at around $20. Stop-loss close below $18.

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