A Blast From the Past

I like the breakout-pullback setup in FFIV, one of my favorite momo stocks from what now seems like ages ago. Stock broke out over resistance, there’s a nice volume pattern and money seems to rotating into select tech stocks.

The fact that the recent breakout was not on heavier volume leads me to believe there will be a pullback. I see to buy areas. First, the support area marked in the chart below, in the $32.50-34 range. However, if the market pulls back as well, I wouldn’t be surprised to see a deeper pullback to the 50 day MA, $30.85.

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