Vmware Is Close to Resistance

New York, March 8th (TradersHuddle.com) - Shares of VMware, Inc. (NYSE:VMW) are trading very close to calculated resistance at $75.60. The stock ended the trading session at just $73.88, which is near levels that make it difficult to buy or start a position.

VMware, Inc. (NYSE:VMW) provides virtualization solutions for the desktop computer and data centers. Its solution products address a range of IT problems, which include cost and operational inefficiencies, business continuity, software lifecycle management and desktop management.

Vmware's stock range is defined by its calculated support defined at $70.05 and by the resistance level at $75.60; the stock is clearly over-extended from support, making it harder for participants to establish fresh longs.

Traders don't have a clear entry point for Vmware. However, as the stock pulls back towards $70.05 it will definitely provide a reference point to establish a trade. On the other hand, if the stock breaks above its resistance level at $75.60 then traders will get an opportunity to enter the stock as it moves to a higher range.

Technical Scans

Stock Market

o Dow Jones 16,773.12 ▲300.75 (1.83%)
o S&P 500 1,986.68 ▲35.32 (1.81%)
o NASDAQ 4,778.31 ▲70.53 (1.50%)

Dow Jones

Company ID [INDEXDJX:.DJI] Last trade:16,773.12 Trade time:2:51PM EDT Value change:▲300.75 (1.83%)

S&P 500

Company ID [INDEXSP:.INX] Last trade:1,986.68 Trade time:2:51PM EDT Value change:▲35.32 (1.81%)


Company ID [INDEXNASDAQ:.IXIC] Last trade:4,778.31 Trade time:2:51PM EDT Value change:▲70.53 (1.50%)

In The Wires

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