Cavium Networks – Head and Shoulders Top

By | February 5, 2015

Cavium Networks (CAVM) is not experiencing the bounce seen in the broader semiconductor space this month. A head and shoulders top has formed on the daily chart with neckline resistance in the $57.00 to $56.00 area. The MacD and RSI have been tracking lower since the December left shoulder formed, and the volume-weighted Money Flow Index has moved out of an overbought condition and is sitting on its centerline. A neckline break projects back below the 200 day moving average.

225. cavm CHART

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