EMC : Looks like it’s ready to fly

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%

 

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