Juniper Networks is Near a Key Support Area
Published on Thursday, 27 December 2012 05:32 Written by TradersHuddle Wire
New York, December 27th (TradersHuddle.com) - Shares of Juniper Networks, Inc. (NASDAQ:JNPR) are trading very close to calculated support at $19.42 with price action closing at just $19.89 and placing the stock near levels where traders will start paying attention.
Juniper Networks' stock range is defined by its calculated support defined at $19.42 and by the resistance level at $20.67, which should be used by traders planning their trades. These support and resistance levels are based on a peaks and troughs algorithm of the stock's price action.
Traders wanting to establish a position should pay close attention to Juniper Networks' price action, and establish it as close to support as possible, but only after buying materializes. Traders should understand that the resistance point at $20.67 might limit their upside, however, if the stock breaks resistance, it could be a good point to add to the position.
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.