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Follow EMC Corp. Into the Cloud

The charts for storage firm EMC are saying 'buy'


EMC Corp. (NYSE:EMC) — One of the world’s largest suppliers of enterprise storage systems also owns 80% of VMware (NYSE:VMW), the largest provider of server virtualization software. Standard & Poor’s estimates that EMC will earn $1.72 in 2012 vs. $1.51 in 2011. Demand for storage data continues at a torrid pace, and EMC is the company that can satisfy it. EMC also focuses on cloud computing and virtualization software and is gaining market share in that important area of growth. It’s a “Five-Star, Strong Buy” by S&P.

Technically, the bull channel has a top at close to $30, and the stochastic issued a buy signal last week that should result in a challenge to that top. The trading objective for EMC is $35.

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Trade of the Day Chart Key

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