InfoBlox (BLOX)

[ospreyeye]

BLOX Chart: Major Bullish Divergence Alert -

This is quite spectacular………checkout Accum/Dist, PVO & CMF…….all three are heading due north, but look at the candle formed Friday and the share price……..BLOX formed a Red Long Legged Doji & closed down 36% for the day…………when Accum/Dist, PVO & CMF are up, but the share price closed down that = bullish divergence……..& is just what you want to look for when scanning for bounce plays……

This is the really funny part -

Citi and Deutsche Bank currently rate Infloblox at Neutral and Hold, respectively, and have significantly cut its price targets, Citi from $25 to $15 and Deutsche Bank from $30 to $18.

$15 & 18 Targets……….& that is the downgrade after bad news……….

BLOX hit a new 52 week low on Friday when 12.01 was hit……BLOX closed @ 12.96 on Fri………that is well below the new downgraded share price targets………..now you see why there was Bullish Divergence on Friday……..

BLOX on bounce radar……………..$$$