DorseyWright likes WebSense/WBSN!
"Websense/WBSN (Internet): With the Internet sector back on offense, and with advantageous field position, we have been watching a handful of names in the group with good peer RS already. WBSN certainly falls into that category, and with today's breakout at $55 -- in addition to having positive long-term trend and RS versus both the market and its peers -- the stock is back on a near-term buy signal.
"First resistance for WBSN exists at $62, the chart highs set in March; the incomplete bullish price objective is $66 upon this breakout. WBSN is a 5 for 5'er and should be considered for new long positions, and our tactic will be to enter partial positions here and add on pullbacks toward the low-50's; closer to support. A stop loss point is available at $49, which would be a double bottom break and violation of the bullish support line."
"First resistance for WBSN exists at $62, the chart highs set in March; the incomplete bullish price objective is $66 upon this breakout. WBSN is a 5 for 5'er and should be considered for new long positions, and our tactic will be to enter partial positions here and add on pullbacks toward the low-50's; closer to support. A stop loss point is available at $49, which would be a double bottom break and violation of the bullish support line."
[click to enlarge]
As you know, it appears to me that WBSN is headed higher than $66!
posted by David M Gordon | 5:06 PM
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