EMC : Looks like it’s ready to fly
April 7, 2011 Leave a comment
EMC has just passed a key resistance at 1.97, and should hit 2.10 very quickly, and indeed probably on to 2.20 in no time.
The late December 2010 high at 2.36 will be taken out after Songran, and we see a possibility of the stock rallying to about 2.7-2.8, with a huge surge in volume in the way.
We are buyers at 1.97 or just above, and think the chances of it bettering the recent high of 2.36 is about 75%