Stock Chart RVBD

Posted by downtowntrader | 5/11/2009 02:52:00 PM View Comments

Stock Chart Analysis RVBD

Riverbed Technology, Inc.(Public, NASDAQ:RVBD)

I mentioned I was looking at RVBD as a swing long on twitter today, and I thought I would highlight what I was looking at. RVBD is in a short term uptrend on the daily chart, setting higher highs and lows over the past few months. It successfully cleared a reverse head and shoulders in February, which could of put in a bottom on a longer timeframe. Zooming in to the present, RVBD recently had a breakaway gap on large volume, succssfully taking it to a new pivot high. It has been consolidating that move, and made a higher daily high today after finding support on the 20-day moving average. My thoughts are that a long entry here with a stop under the prior two candles offers a pretty good risk versus reward setup. My target would be based on RVBD clearing the last high and trading to the next resistance level near $24-$25.

As always, please exercise your own due diligence if considering this or any other trades.

Good Trading,


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