Motorola (MOT) announced it has completed the sale of its automotive electronics business to tire-maker Continental AG for $1 billion. The company is keeping portions of its auto-related business dealing with communications technology.
On the technical side, MOT is still moving within a decreasing channel. At the moment it is close to the upper descending trendline:
The last relative low was printed on a positive divergence of Bollinger %b(Close), which measures the distance of the close from the lower Bollinger Band. This divergence indicates that MOT weakness might be over for the moment. Prices managed to rebound printing 3 consecutive up closes, getting very close to the resistance. Likely, more accumulation is needed before breaking out the channel.
I would wait for a short term formation on future weakness before trying a long trade. $21 and $22 are the objectives to the upside.