Redback Networks, Inc. (RBAK)

[PowerPole]

RBAK Had Three New 52 Week Highs IN A ROW!

Last week, on Wednesday, Thursday, and Friday...

1Year/Weekly Chart:
Last weeks candlestick is almost a doji, suggesting consolidation...The pps closed at the top Bollinger Band, so it may trend sideways or retrace a bit to get back inside it...CMF ran flat, while the A/D line showed increasing Accumulation... The RSI isn't too high...The ADX shows the untrend strengthened... Stochastics are Overbought...MACD upticked...Volume was half of last weeks...A possible consolidation or retracement is indicated here...


2Month/Daily Chart:
Friday's close is inside the upper Bollinger Band which is still moving up...The chart pattern is a consolidation in an uptrend-Bullish...CMF and A/D both upticking-Accumulation continues...ADX still upticking-the uptrend is strengthening...Stochastics have been Overbought for days-throw this one out...MACD still rising-Bullish...Volume diminishing last two days-Strange, as it set new highs...Overall-Very Bullish...



10Day/Hourly Chart:
Stairsteps up is the chart pattern-Very Bullish...Bollinger Bands tightening-A move is coming-probably up...CMF and A/D lines-Show Accumulation...RSI breaking up...ADX upticking-Uptrend Strengthening...Stochastics-Overbought...Volume-OK...Overall-Very Bullish...


Overall-Next week may call for a consolidation early on, with it most likely setting new 52 week highs sometime during the week...JMVHO