Friday, April 18, 2008

Tech stock technically.

This week was very good especially for tech companies. After good earnings results many tech stocks cross above resistance line. Look at the first chart. Technology sector SPDR ETF (XLK) as a benchmark for industry. ETF already tested resistance in the beginning of April. Today we can see breakout.

Second picture is for Research in Motion (RIMM) where shares cross resistance. And we are only 10% below all time high. Research in Motion has been very resistant during last half year turmoils.

Third is Microsoft (MSFT). There have been many news about Yahoo (YHOO) acquisition and MSFT lost all gains from last successful year. The chart shows 3 years and there is evident very strong support and resistance at $26. Also now this level has helped to bounce.

Last chart is for Apple (AAPL) with today's breakout at $160. This resistance and support have been formed during last 10 months.


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