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Stock Pick of the Day - Palm Inc.
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Mar 20, 2010

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Larry Swing

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Stock Pick of the Day

Palm Inc)

Closing Price: $4.0

RSI: 23.12

MACD: -1.71

PALM Inc) plunged on Friday after it announced a disappointing earnings for the last quarter. The smartphone maker Palm plunged 29% after reporting a steeper-than-expected quarterly loss after the close of trade Thursday. Palm also said that a big build-up of inventory will drag on current-quarter revenue.

PALM Inc. (PALM) has been falling for some time now, ahead of the earnings. The stock has already been forming a fresh lower top and lower bottom pattern. PALM has now moved to less than half of its 200 day MA. It may now take time to find new support levels at levels below $3 and traders are advised to exit the stock.

...thanks for the trust you've shown in me and my business.

by Larry Swing
larry@mrswing.com
May the swing be with you...

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