A little less than 2 years ago, VMware (VMW) came shooting out of the gate going from $50 to $120 in just a matter of a couple of months; however, since than not much has happened to the former IPO except going lower and lower.
At this point the stock currently sits around the $30 level. Yes, that is lower than what it IPO’d with. On the bright side it seems like things might be looking up for VMware.
Looking at the technical analysis we see that the stock has been trading in a sideways momentum for nearly 6 months now, but VMware has now crossed above the 200 day moving average (red line). Obviously, the room ahead is pretty evident.
By the way, MarketClub’s triangles are a fan of it too.
What about EMC? Remember my love for EMC (EMC) a little more than a year ago. Well could it be back on the rise? Forever, it seems like we have been waiting for the VMW play to boost EMC, but it has yet to happen. Coincidence that the charts looks almost the same?
If both these stocks play out right, there is some big movement up ahead (especially VMW).