Technicals Point To Buy Motorola – MOT
During trading hours earlier today, I posted a chart of Motorola (MOT) on Twitter. Mainly because there was a lot of related activity going on. Research in Motion (RIMM) was downgraded, while Motorola was upgraded… obviously due to their new phone the Droid (more on that to come later).
Anyways the chart looked pretty good and showed signs of breaking out of a 3 month wedge resistance. In fact, by the end of the day it did. Now we wait for confirmation to indeed call this is a break. You can see chart below.
Click to enlarge image
Scaling this out to a bigger picture you can see, in the chart below, that there is roughly a good 2 point range ($8-$10). So we can continue to be on the look out for this now.
Click to enlarge image
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