During Monday night's Mad Money program Jim Cramer discussed how competition is a good thing in the cloud space and the Pentagon's cloud infrastructure contract to Microsoft (MSFT) will be not only good for Microsoft, but also for a host of other cloud players, such as VMware (VMW) . Let's check out the latest charts and indicators for VMW.
In the weekly bar chart of VMW, below, we see a positive-looking picture. Prices are still below the rising 40-week moving average line but a weekly close above $170 will change that.
The weekly OBV line shows no weakness the past year and is thus very bullish, in my opinion. The MACD oscillator just crossed to the upside for a cover shorts buy signal.