NOV29 0948PST. Seagate Technology (STX) has declined in today's trade to $25.0 support from a pair of price channels: a 7-month channel, shown below in dashed red; and a 4-month channel, shown below in dashed yellow.
The 7-month channel is only minimally defined, however; it consists only of the essential 3 points. (Two points are necessary to define one channel boundary, and a third point is needed for the second channel line). As such, the probability for a rebound here appears, prima facie, to be somewhat diminished.
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| STX. March 15, 2012 to present. Hourly candles. |
