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Look for Shares of TIBCO Software to Pullback after Yesterday's 2.08% Rise (TIBX)

Written on Tue, 07/27/2010 - 3:55am
By Chip Brian

TIBCO Software (NASDAQ:TIBX) traded in a range yesterday that spanned from a low of $13.90 to a high of $14.29. Yesterday, the shares gained 2.08%, which took the trading range above the 3-day high of $13.95 on volume of 3 million shares.
Shares of TIBCO Software are currently trading above their 50-day moving average (MA) of $12.01 and above their 200-day MA of $10.36. Look for these MAs to provide support for a short-term pullback in the shares.
SmarTrend is bullish on shares of TIBCO Software and our subscribers were alerted to Buy on December 23, 2009 at $9.69. The stock has risen 46.6% since the alert was issued.
SmarTrend has the shares in an Uptrend and expects the share price to pullback toward the $13.95 support level. Afterwards, we expect it to move upward with its peers in the SmarTrend Business Software & Services industry.

Keywords: Tibco software trading range stock news

Ticker(s): TIBX

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