Both the technicals and fundamentals seem to be in convergence in pointing to higher prices. Looks like today's opening bid is strong. All moving averages pointing higher. Massive inverse head and shoulders and cup and handle chart patters. Business seemingly stronger than ever.
Will this be another head fake? Hard to tell. One thing that has me puzzled is the fact that we haven't really had a lot of analysts raise their price targets. I guess they are waiting for either some upward guidance from management, or earnings in February, but we may be getting ahead of ourselves soon as the average price target is in the low 23's.
then again, this might be a sector move-network stocks look like they're back in favor. If that's the case, this stock could see a nice run. I believe CSCO reports next week and if they're bullish, the whole sector will move higher.