Hello? Is Anybody Out There?
- Posted by Greg Harmon
- on February 27th, 2013
Everyone has seen the commercial where the dry cleaner receptionist was replaced with a blender. I like the young guy that presses the button and then clearly mouths WTF. You would not take that in today’s world, but up until recently that is what you had in the tech help space. Need help with your internet connection, download this 90 page document and try to figure it out. Oh but you don’t have access right. One company is changing that. LivePerson, $LPSN, provides tech support from a remote live person. I have used them and found it to work really well. But being a technical trader the reason for talking about it now is that the chart is looking very bullish. The stock took a dive in November and has been slowly recovering. Until the breakout Wednesday. Notice the breakout
over the falling trend line resistance and over the 100 day Simple Moving Average. The Move higher closed the gap down from November before a slight pullback. This could be resistance and trigger a pullback but the Relative Strength Index (RSI) is rising in bullish territory and making a new high with a Moving Average Convergence Divergence indicator (MACD) that is rising on the signal line and positive on the histogram. Translation: Bullish. Add in the support from the rounding and rising 50 day SMA and Bollinger bands that are opening higher and the picture is complete.
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The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.blog comments powered by Disqus
Gregory W. Harmon CMT, CFA, has traded in the Securities markets since 1986. He has held senior positions including Head of Global Trading, Head of Product Development, Head of Strategy and Director of Equity. (More)
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