EMC Looking Higher - Market Analysis for Apr 12th, 2010

RBC upgraded EMC Corp. (NYSE: EMC) this morning, which has helped goose the stock towards a retest of its March high at 19.04, atop an extremely bullish 2 1/4-year base pattern.  The pattern projects to considerably higher prices in the days and weeks directly ahead. The next immediate targets are 19.90-20.20, and then 20.80-21.10, with my medium-term target in the vicinity of 24.00.

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