Zeev's Turnips Patch-No Politics (ZEEV)

[madrose1]

PALM $30.50 : Earnings Release Technical Summary
BULLISH FACTORS: Trading above all MAs, bullishly overbought. BEARISH FACTORS: Under distribution, trading under many layers or historic resistance.

BULLISH RISKS: Stock is trading in a large symmetrical triangle pattern preceded by an up-move (bullish). On better than expected news/outlook the stock could trade first to the upper band of the triangle [$35]. A breakout on a sustained basis above this level would suggest ultimate pattern-based upside in the $55 area. The intermediate objective is resistance at $45.


BEARISH RISKS: On worse than expected news/outlook the stock could trade down to the bottom band of the triangle [$26 area]. The next downside objective [$22-21 area] would break the lower band which is also the main uptrend support line.

PALM January option implied volatility at 56 Prior to EPS
PALM is expected to report EPS after the close tonight. PALM January option implied volatility of 56 is above its 26-week average of 53. PALM intra-day call option volume of 18,867 contracts compares to intra-day put volume of 12,904 contracts. Above average call option volume indicates investors adjusting positions.