Redback Networks, Inc. (RBAK)

[PowerPole]

RBAK Closed at ANOTHER 52Week High AGAIN Today...

With Volume of 1.4MM shares traded today, which is 400K more than the ten day average volume...So, this is Not the end of the run yet IMO...When it gets volume of around 3MM in one day, I will be preparing to close out our Swing Trade position...After this morning's run up, it consolidated nicely, and could be setting up for the next leg up...Or, it may need to pull back just a bit before it moves up again, which I think it most likely will after today's upgrade to 'OutPerform'...

Daily Chart:
The pps is still finding support at the 5DMA...
Today's candlestick is almost solid green, closing near the HOD.
The upper BBand is stretching up, but the pps is near to it...
ALL of the lower indicators are upticking nicely, showing incredible strength...Today's Volume didn't show up on the chart for some strange reason, but is listed above...


30Minute Chart:
The upper BBand sits around 13.40 so that's the potential upside in the near term...Will the pps find support at the 15MA?...The OBV, CMF, CCI, RSI, and A/D lines downticked at the end of the day as Day Trader's locked in profits, without making the pps decline...The ADX however upticked showing the strength of the uptrend...The Stochastics and MACD downticked, but look for a MACD Histogram kiss up off the zero line, for a bullish signal...Overall, both charts suggest Bullishness, as it held most of it's early gains of the early morning rise...Plus the way it sliced up through the 13.00 level like a hot knife through butter is also very strong...Stocks usually have a hard time getting through even dollar prices like 5.00 10.00 15.00 etc...