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Technical analysis shows the software security company Symantec is set to rise. (Photos.com)
Technical analysis shows the software security company Symantec is set to rise. (Photos.com)

What the Charts Say

Bullish on Symantec Add to ...

Symantec Corp. stayed in a trading range mostly between $13 (U.S.) and $20 from 2009 to 2012 (dashed lines). The subsequent rise signalled the breakout from this large area of accumulation and the start of a new major up-trend (A). Symantec had an orderly pullback to its rising 40-week moving average (40wMA - B) and now appears ready to resume the up-trend (C). Only a decline below $21-$22 would be negative.

More Related to this Story

Point & Figure measurements provide an initial target of $29. The large trading range supports higher targets.

Monica Rizk is the senior technical analyst for Phases & Cycles Inc. (www.phases-cycles.com). Ron Meisels is a contributor to the www.NA-marketletter.com website and Tweets at @Ronsbriefs. They may hold shares in companies profiled. Please see the site for a glossary.

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