Rambus (RMBS)

[traderjoe9]

Hey Threejack...market appears to be in correction but my price targets are based solely on Ram technicals. As far as fundamentals, I would be cautious in any exuberance attributed to the utterances of Ram management. Not saying the upside isn't there, but just look at aapl for comparisons sake. Apple's fundamentals are great but investors are not seeing the growth so they won't even pay a market multiple for the stock. Ram technicals, to me, say we have a pullback from the 10.81 high to either the 50% retracement level, @7.32 or the .618 level of @ 6.52. This is good in that this will be a failure of a wave 5 down which suggest a reversal up from these levels or a sideways correction. This is never something you can bank on but something you can trade on using proper money management. I think this projection looks likely based on a falling On Balance Volume and William's Accumulation/Distribution, especially the William's on the weekly. Of course this could change subject to general market conditions or significant Ram news. Best of luck!