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: http://notablecalls.blogspot.com/2007/05/motorola-nysemot-color-on-cost-cuts.html
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