I might buy shares back if price drops under 80, definitely under 70. This is a great company, leader in the cloud computing software. But right now stock looks overpriced and that H&S pattern doesn't look good.
Friday, April 15, 2011
Taking Profits in VmWare
I have the impression that momentum is over for VmWare (VMW). Head and shoulders pattern, visible on the 12 months chart, can lead stock down to mid-60s. I decided to sell part of the position. That was a great ride, position almost tripled in less than 2 years. Time to take some profits. Especially before earnings report.
I might buy shares back if price drops under 80, definitely under 70. This is a great company, leader in the cloud computing software. But right now stock looks overpriced and that H&S pattern doesn't look good.
I might buy shares back if price drops under 80, definitely under 70. This is a great company, leader in the cloud computing software. But right now stock looks overpriced and that H&S pattern doesn't look good.
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