Forbes: "Palm More Promising Than Apple Or RIM" "Palm, once the king of the handheld device market, has had to fight an uphill battle against both RIMM and AAPL to regain a foothold. Palm is slated to release its own entry into the touch-screen market later this year, along with a slick new mobile operating system. The move has prompted questions of legal action from Apple, as the new Palm Pre, with webOS, performs remarkably similarly to Apple's iPhone. Still, the Pre revelation has inspired PALM investors, and the shares are making a comeback.

Technically speaking, PALM has rocketed more than 240% higher in 2009, enjoying near flawless support from its rising 10-week moving average. Furthermore, the equity has not closed a session below its 10-day and 20-day moving averages since March 9. The stock met with a spot of technical resistance near the $12 level on May 7, but the pullback was halted by support at PALM's rising 10-day moving average. Additional support lies just below the shares at the $10.50 level, an area that recently provided short-term resistance. A rebound from this solid support should help propel PALM steadily higher."

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Labels: apple, blackberry, iphone, palm, pre

  ¶ posted by Jimmie Geddes, Editor @ 5/09/2009 12:22:00 AM