VMware Inc. (VMW) has been in a longer-term downtrend but now it looks like it has the power to break out to the upside. Let's check out the charts of this virtualization and cloud computing software provider as it reports it latest earnings.
In this daily bar chart of VMW, below, we can see that prices have been making lower highs and lower lows the past 12 months. Prices are now testing the underside of the declining 200-day moving average line. VMW has stayed above the rising 50-day moving average the past month.
The daily On-Balance-Volume (OBV) line shows new strength from the middle of March and the Moving Average Convergence Divergence (MACD) turned bullish in the middle of April when it closed above the zero line.