VMware, Inc. provides virtualization infrastructure solutions in the
United States and internationally. The company's solutions enable
organizations to aggregate multiple servers, storage infrastructure, and
networks together into shared pools of capacity that can be allocated
to applications as needed. Its cloud infrastructure products and
technologies include its flagship data center platform, VMware vSphere,
which enables users to deploy hypervisor, a layer of software that
resides between the operating system and system hardware to enable
compute virtualization; and vCloud Suite, an integrated solution for
building and managing a cloud infrastructure optimized for use with the
VMware vSphere platform. The company also provides end-user computing
solutions, which are designed to enable a user-centric approach to
personal computing, and secure access to applications and data from
various devices and locations; and cloud application platform solutions
providing open source application frameworks, application run-time, and
data management solutions, as well as an open platform as a service.
To review VM's stock, please take a look at the 1-year chart of VMW (VMware, Inc.) below with my added notations:
VMW has formed a solid support at $70 (navy), which would also be a
52-week low breakdown if the stock breaks below it. In addition, the
stock has formed a potential trendline of resistance (blue). These two
levels combined have VMW sandwiched within a common chart pattern known
as an descending triangle. At some point, the stock will eventually have
to break one of those two levels.
The Tale of the Tape: VMW has a down trending
resistance and a 52-week support level to watch. A long trade could be
made on a breakout above the downtrending resistance or on a pullback to
the support. A break below the $70 support would be an opportunity to
enter a short trade.
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