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Schaeffer's Research: Any further downgrade can put VMW shares under pressure

With VMW shares barreling lower, there's really no definitive form of support or resistance to be seen. While the stock has been rather chummy with the 45 level of late, it's too soon to tell whether this range will act as support, or fail the stock like the 75-to-80 neighborhood did in February.

However, VMW junkies would be wise to note the sentiment on the Street. With half of the ranking analysts maintaining their bullish stance on VMW– despite weak price action – combined with a 12-month price target bordering on the high end, there is plenty of room for analysts to reconfigure their outlooks. Any further downgrades and/or price-target cuts could put added pressure on the shares.

Speaking of added pressure, the notable heap of short sellers is nothing to disregard. Should VMW continue its ugly trek lower, these bearish bets could accrue even further, potentially making it even more difficult for the stock to turn around.


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