Monday, October 29, 2007

TechTarget (TTGT)

TechTarget (TTGT) is an interesting stock as the 2007 IPO drifted from its post launch gains, down to the $11s before reversing its losses and breaking $15.80 resistance. It featured to newsletter subscribers in September as it was shaping its right-hand-base. The stock found enough momentum to take it to $18.69 before it entered its current October consolidation, generating a positive back test of $15.80. Technicals are nicely bullish with a MACD trigger line well placed to signal a "BUY" while knocking around well above the bullish zero line. Earnings are scheduled for November 7th and with no overhead resistance a positive surprise could send this flying.