EMC Offers a Low-Risk Entry

EMC (EMC) is testing the upper band of a major support zone today. The stock began to struggle one week ago, and at mid-session it is working on its sixth straight loss. On Thursday, the stock took an ugly hit, losing nearly 3% at one point. The drift lower has continued into this week while selling pressure has noticeably eased. Now that key support has come into play, EMC is may soon show signs of a near term bottom

Back on July 24, EMC exploded to the upside after reporting impressive second-quarter results. The stock surged more than 7% in the early going before settling with a 5.8% gain on nearly double average trading volume. The powerful session began with a huge gap-higher open, but the upside momentum faded quickly. EMC faded as the month ended, leaving behind an earnings-inspired spike high. The post-second-quarter-report consolidation appeared to give way on Aug. 8 after shares jumped 2%, but volume was very tame. Last week, the fade began anew without a challenge to the July peak....205 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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