Redback Networks, Inc. (RBAK)

[PowerPole]

Yes, I had a great week, and a great end of week...

By getting in on RBAK for that short covering rally I had mentioned to you earlier today if it broke above 15.20 convincingly...IT WORKED!!!...LOL...

It closed only a penny off it's intraday high of 15.60 and the buy signal was when the Volume on this five minute chart spiked up to the highest volume of the day just before 3pm...Look at that increase in Volume the last hour of today!!!...



Both of these daily charts upper Bollie Bands show the potential upside is only 16.50 but the last time it was up here, it broke above them quite a bit, so 17.00 is still possible...If it breaks above that and holds it, we could see 20.00 again before the end of the year...



This daily chart also shows the upper BBand at around 16.50 which is where I'll be thinking about taking profits on this Swing Trade....What I find most important is the 15DMA is above the 50DMA and has been for a few days...That's ALWAYS a buy signal for me...



Have a great weekend mince...See you Monday...