Technical Analysis of Financial Markets

Monday, June 04, 2007

Motorola, Inc. (MOT)

Since the breakdown beginning mid-October 2006, Motorola has declined over 50% with price action remaining bounded by the 50-day moving average. Recent breakout from the 50-day moving average now serving as support may signal a trend-reversal. RSI is gaining momentum with sustainable support at 50 since the breakdown occurred 8 months ago. Stop-loss close below 50-day moving average. Jefferies maintains a $19 price target; Raymond James has a strong buy recommendation:

No comments: