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InTheMoneyStocks.Com is a research and consulting company focused on mathematical proprietary techniques along with a key understanding of price, pattern and time. Through understanding geometry and other technical analysis methods, InTheMoneyStocks.Com prides itself on avoiding Wall Street hype... More
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  • Splunk Inc Will Be Sunk At This Level 1 comment
    Aug 29, 2014 12:40 PM | about stocks: SPLK

    Today shares of software maker Splunk Inc (NASDAQ:SPLK) are soaring by around 20% as the company came out with earnings and guidance that the street is loving. The stock had a gap up higher and has basically gone up all day with minor pullbacks, which are probably points where traders and investors are taking profits. As a pro trader who makes a living from day trading and swing trading by utilizing charts, I see an extremely interesting level where money can be made on the short side. I have isolated $56.45 area as stiff resistance for Splunk Inc (NASDAQ:SPLK) to stall out. This level has been singled out using proprietary techniques and will be where I step up to short this high flyer.

    (click to enlarge)

    Parm Mann
    InTheMoneyStocks.com

    Stocks: SPLK
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  • User 6729031
    , contributor
    Comments (69) | Send Message
     
    sorry - your chart analysis is flawed. pay attention to the volume with which it is moving up.
    2 Sep 2014, 03:33 PM Reply Like
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