TLAB Tellabs Weekly Chart Oversold Falling Wedge Positive Divergence

TLAB appears to be holding its own thru this market turmoil. The falling blue wedge, and now falling green wedge, indicates a reversal is near. Oversold stochastics and positive divergence with all indicators all point to a higher move coming. Tech was beaten relentlessly today, along with the broader markets, and would be expected to recover before many other sectors.  The 3.72-3.77 area today provided an attractive entry.  Perhaps tomorrow brings a better entry but overall, the chart is very constructive for the upside moving forward. This information is for educational and entertainment purposes only.  Do not invest based on anything you read or view here or on any links to this site. Consult your financial advisor before making any investment decision.