Replies to post #32 on Redback Networks, Inc. (RBAK)

[PowerPole]

Well...I said RBAK would go to 11.00 before...

The open this morning:

"Daily:
Yesterday, the pps broke above the upper Bollinger Band but closed inside of it, and I like that it is moving up...The Candlestick it formed is not a Shooting Star, as the body is too large...The chart pattern was an inverse head and shoulders that broke out above resistance at 10.50 and 10.57 and the pattern has not yielded yet what I expect it to, which is up to just over 11.00...The RSI is upticking and still below 70...The Stochastics are showing Overbought...The DMI+ and DMI- are diverging...The MACD had a nice crossover into positive territory a few days ago...And the Volume is Impressive..."

Yes! Today's intraday high is 11.04
Though I don't like the gap up it had this morning...It will most likely have to fill...

[PowerPole]

I sure didn't expect the Huge gap up this a.m...

RBAK doesn't usually do this, and it was Not a 'gap and trap'.
It held up very well, consolidating in an uptrend...
The Volume that came in at 1:30pm and at the end of today was the highest in 5 days, and the total Volume for today was nearly 2.1MM shares which is Way above the average Volume.
The volume in the last ten minutes was almost 250K shares and pushed the pps to close today .01 below the intraday high, which is VERY Bullish...

If it gaps up at the open again tomorrow, and forms a shooting star candlestick on the hourly chart in the first hour of trading, I will be selling our Swing position (for a Very decent profit)...

Especially if the end of the day volume is 3-4MM shares...
This is RBAK's usual Modus Operandi...Then, a pullback and consolidation will be called for...IMO