Wednesday 6 February 2013

STX - bear flag?

Seagate Technology Holdings (STX) closed up almost 2% @ $34.62. Its continuing to recover after the gap lower on recent disappointing results. Despite the minor recovery, the price action could easily be a bear flag, with a target of 32/31 within the next week or two.


STX, daily


Summary

*not much to add, its merely one to watch.

If the main indexes retrace to sp'1470/60 within the next few weeks, then STX @ 32/30 would look like a very reasonable entrry level.