VMWare Inc. $VMW has been consolidating above a key support/resistance pivot and the 200-day simple moving average (SMA). In a previous analysis, we noted that the heavy price action suggested breakdown of those support factors in an extension of the current bearish correction. VMW Daily Chart (click to enlarge) Bearish Correction in a Bullish Market:- The daily chart shows a market that is in a sharp bearish correction within the context of a bullish trend from Feb. 2016 to May 2019.- The correction is now extending below a key support/resistance pivot around $168.- But because of the prevailing bullish trend, I think the correction will face support when it approaches $150. - $150 is the middle of the previous consolidation range and near a rising trendline. - The RSI will likely dip below 30 in if price slides to $150. In the context of a bullish trend, this would be an oversold signal. I entered a new position in June around $166, and look to add to the position around $150.