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Hello Motorola

The wireless device maker reversed on a buy signal and executed a gold cross


Motorola, Inc. (NYSE: MOT) — This maker of wireless and networking equipment topped at over $9 in November 2009, and then fell to under $6 in February 2010. 

But since then, it has been consolidating within a broad rectangle. It briefly broke through the resistance line of the rectangle in July, ran to over $8, and pulled back on profit-taking. 

Late in August, it reversed on a signal from our internal indicator, the Collins-Bollinger Reversal (CBR), and executed a gold cross.

A break above the resistance line at $7.80 gives a target of over $9. 

S&P has a “four-star buy” rating on the stock with a 12-month target of $10.

MOT Stock Chart

Chart Key

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