Aruba Networks Inc. (ARUN +$0.01 or +0.08% to $12.19) held its ground today. It gapped up 2/19/10 and was featured in the mid-day report (read here) as a considerable gain for a new 52 week high on more than 8 times average volume helped it break out from a flat base-on-base pattern above its 50-day moving average line. A gap up gain with 8 times average volume is an indication of heavy institutional (I criteria) buying demand.

Quarterly earnings increases (excluding items - click here to read about "Q2 Loss" in the Business Journal) have been strong and sales revenues in the latest quarter ended Jan 31, 2010 showed impressive acceleration. The strong technical action was an immediate response to its improving fundamentals. Its current quarterly earnings (C criteria) increases have been above the +25% minimum guideline and earnings in recent years followed prior annual losses.