Potentially gigantic break out from ascending triangle built in past years, looking for 14 years highs (quasi-ATH). Based on the size of the pattern the long-term target might be around 38,2. The stock weathered through recent broad stock market correction quite well, shows some relative strength. On the daily chart it bounced straight from 200D SMA, and ready to fight 30 again.
On the fundamental side potential VMW split/spin-off and new VMAX product line might be catalyst, while EMC core valuation still compelling to peers when adjusted with VMW stake.
On the fundamental side potential VMW split/spin-off and new VMAX product line might be catalyst, while EMC core valuation still compelling to peers when adjusted with VMW stake.