Mike's Mid Day Minute is available to members on Monday, Wednesday & Friday evenings, with one article per week available to non-members. Members please login and see "Mike's Mid Day Minute" in the navigation menu towards the top of the page.

Eye on APKT


After this morning's Barclays upgrade, Acme Packet (APKT) has responded positively thus far, with the stock up in excess of 5% while the SPX is up 0.93% and the NDX up 0.73%.

Purely from a technical perspective, the upgrade-strength left behind a low yesterday at 25.12, which preserved APKT's bear market low at 24.88 from March 28 and also preserved the larger base-like pattern that has been developing since last November.

That larger pattern has the makings of a major, potentially powerful multi-month double-bottom in the vicinity of 25.00 in the aftermath of a bear phase off of the 4/29/11 high at 84.50. To gain initial upside traction, APKT must hurdle and sustain above 29.00, which should trigger continuation towards 33.50/70 thereafter.

  • Action-Oriented Trade Set-Ups in Stocks & ETFs
  • Macro Analysis of the Broader Markets
  • Detailed Technical Guidance for each Trading Idea
  • Live Interaction w/ Mike & Our Member Community
  • And Much, Much More!
Join Now! - Special Offer!
Veteran Wall Street analyst and financial author, Mike provides detailed and timely analysis and trade set-ups on a range of markets. Read more...

Have Mike's “Out Front” morning analysis delivered FREE to your email inbox twice weekly!