Teradata Breaks DownOctober 15, 2013
One of the tech high flyers the last few years has been Teradata, who sells software to cloud data centers. Today the target price was cut from $75 to $45 and the stocks is down almost 17%, making it the worst performer in the tech sector.
This drop will accelerate the downtrend that has been in place since last year. Using our relative strength point and figure charts, we can see the prolonged period of underperformance. Today’s breakdown will be another waterfall decline, taking the stock back toward historic support from 2011.