Here's How To Trade VMware
InTheMoneyStocks.com | Jun 06, 2019 12:53PM ET
VMware (NYSE:VMW) is a leading cloud computing software stock that has been under pressure recently. The stock topped out on May 16 at $206.79 a share. Since that high pivot,VMW has declined sharply and is now trading at $168.02 a share. Over the past four trading sessions the stock has been forming a bearish daily chart base above its important 200-day moving average. A weekly close below the 200-day moving average will likely cause another leg lower in the stock.h3 Major Support/h3
Traders should note that the stock has major support around $150. This important support area is a major retrace level and also a level where the stock broke out in February 2019. Very often, stocks will be defended at their prior break-out levels.
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