And the ARM stock price manipulation goes on and on...
ARM has become a study in manipulation as the big boys try to keep the stock price from plummeting below $40.
So, what happened today. Well, the stock opening at 40.77 but then moved all the way up to 41.25 and then down to 40.69 and is now hovering at 40.71. The big boys propped it up by 48 cents but it didn't really do any good.
Well, the big boys will have their work cut out for them next week with the IFA/IDF/Bay Trail release firing up.
But it's a bit of fun to watch the ARM stock price bounce up and (mostly) down.
Nothing fundamentally changed with either ARMH or INTC today. ARMH remained below its 200 DMA resistance of 40.97 and INTC remained above its 200 DMA support of 21.85. These may prove to be future lines in the sand from which the two stocks then converge and ultimately cross in the future around $25-30.