Unisys Corporation (NYSE: UIS) Tests Support Says Market Timer Frank Kollar
May 2, 2007 (FinancialWire) (By Frank Kollar)
Shares of Unisys Corporation (NYSE: UIS) the worldwide technology services and solutions company, sold off almost 13% after posting a first quarter net income of $3.6 million. What happens next?
The selling tested support last Friday at the $7.60 level and then rebounded slightly. Tuesday’s close at $7.80 leaves Unisys only 3% above that support. A close below $7.60-$7.65 in coming days would likely result in a further decline to at least $7.11 a share. Unisys bulls may want to wait for a confirmed reversal before taking positions.
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