Juniper Networks Is Dipping Below Support

New York, April 23rd ( - Shares of Juniper Networks, Inc. (NASDAQ:JNPR) closed the trading session at $20.60 below calculated support at $20.75. The stock broke long setups, prompting the bulls to worry that this move might give the bears the upper hand.

Juniper Networks, Inc. (NASDAQ:JNPR) provides Internet infrastructure solutions for Internet service providers and other telecommunications service providers. The Company offers network infrastructure solutions that include IP routing, Ethernet switching, security and application acceleration solutions.

Juniper Networks' stock was trading in a well defined range with support at $20.75 and resistance at $22.24; given that this range was broken traders will be closely monitoring the stock's price action for clues of direction.

From a technical perspective, it can be expected that previous support becomes resistance, as the new range gets defined. However, $20.75 will remain in focus as Juniper Networks' price action places the stock near the broken support. Traders will be waiting to see if it can bounce back and return to its previous range.

Traders wanting to establish a short position in Juniper Networks can do so if the stock breaks the intraday low, or if the stock bounces back and selling materializes again at previous support of $20.75. However, if traders want to build a long position, the best entry point to do so is when the price action takes the stock back to calculated support.

Note - Automated Content Created By TradersHuddle's Technical Scanner

Related Partner Headlines

    You could minimize risk by trading in stock sectors rather than individual stocks. Find out why ETFs are the hottest investment vehicle on the planet. Try ETF Profits for FREE NOW!

    TradersHuddle Search

    Stock Search:

    Site Search:


    Technical Scans

    Recent Trading Ideas

    Latest Partner Headlines

    Stock Market

    o Dow Jones 17,062.58 ▼16.99 (-0.10%)
    o S&P 500 1,997.26 ▲0.52 (0.03%)
    o NASDAQ 4,561.56 ▲3.86 (0.08%)

    Dow Jones

    Company ID [INDEXDJX:.DJI] Last trade:17,062.58 Trade time:10:01AM EDT Value change:▼16.99 (-0.10%)

    S&P 500

    Company ID [INDEXSP:.INX] Last trade:1,997.26 Trade time:10:01AM EDT Value change:▲0.52 (0.03%)


    Company ID [INDEXNASDAQ:.IXIC] Last trade:4,561.56 Trade time:10:01AM EDT Value change:▲3.86 (0.08%)

    In The Wires

    Copyright © 2013 All Rights Reserved.