Playing the Setup in Juniper Networks
Published on Monday, 30 April 2012 06:12 Written by TradersHuddle Wire
New York, April 30th (TradersHuddle.com) - Juniper Networks, Inc. (NASDAQ:JNPR) closed the the trading session at $21.26, near its 50 day and 200 day moving averages currently set at $21.85 and $21.96 respectively. Juniper Networks' price action places the stock below these important levels, which makes it difficult to be bought, as it will certainly face resistance as it approaches these important moving averages.
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.
The latest price action range, defined by a peaks and troughs algorithm, placed calculated support at $19.53 and resistance at $22.50. Traders should monitor these levels, as they provide insight into the latest price dynamics in Juniper Networks.
If traders want to establish a position on Juniper Networks, given the heavy resistance expected near the 50 and 200 day moving averages, a trade might be evident as the stock manages to break these moving averages. However, until the break materializes buying the stock is nothing different than flipping a coin.
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