IDCC is now a takeover candidate. The stock price can reach easily $120 or above in the coming weeks or days. Technical view : From a technical perspective, the stock broke a bull flag higher today on heavy volume. IDCC has the opportunity to start new rally as %K line is back above %D line. The stock remained above its 20, 50 and 200 daily moving averages. The daily RSI rose above the 60 level and the MACD continues to remain above the zero level. Resistance levels are 75 / 82.5 and support levels are 63.18 / 58.67.
Source : AC Investor Blog
Yeah, so all this BULLSHOOOT from "DeepInTHOUGHT" about "head and shoulders" and all that krap he was spouting was just that.... BS.
Unfortunately I have to advise everyone out there. DO YOUR OWN RESEARCH !!! Do NOT listen to anyone spouting technicals or fundamentals on this, or any other, messageing board.
Charts, despite being raw data, are open to charting errors. The only person you can trust is YOU. Learn the charting skills, learn fundamentals, and learn when charts and market trends do not apply to a situation that is unique.
IDCC has followed the market in the past few days. But (and this is IMHO) if this company is sold, a chart used to predict the future is worthless. You cannot predict the future value of this stock based on chart or the market. The only thing that will move this stock is:
THE BUYOUT. (or not buyout)
This is a simple matter of: "DEAL OR NO DEAL".
good luck to all!!!
It's not true that technical analysis is useless for stocks being take over targets. I will give you a good example, when Alcan got bought by Rio Tinto and there was a bidding war between Rio Tinto and Alcoa, Alcan was building a similar triangle or pennnant pattern. Alcan broke the pattern and consolidated for a few days and then it jumped like 25%. Maybe it could be the same with IDCC and I wish you all that this is what is going to happen.