VMware is on my watchlist for some time. Tech company with bright future prospects seems to be bottoming and getting ready to bounce. While Elliott Wave pattern is complete I see positive signs from technical analysis perspective as well.
Overview
This was tought week for Hang Seng. While SSEC rallyed HSI stayed mixed all the week. I see clear channel with strong resistance and support. Recently China took steps Wednesday to freeze regulated prices of energy and other utilities, in a bid to combat inflation exacerbated by soaring global crude oil prices (Read full article at MarketWatch.com). This made energy stock to decline. On friday Asian markets ended sharply lower as a news report on additional write-downs by Merrill Lynch reignited fears related to subprime mortgages.
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