ShoreTel, Inc., together with its subsidiaries, provides Internet
protocol (IP) unified communications (UC) systems for enterprises in the
United States and internationally. The company's systems are based on
its distributed software architecture and switch-based hardware platform
that enable multi-site enterprises to be served by a single
telecommunications system. Its solutions include ShoreTel IP Phones;
ShoreTel Voice Switches; ShoreTel Service Appliances; ShoreTel Director,
which enables IT administrators to view and manage the entire system of
the enterprise from any location using a single application; and Small
Business Edition for smaller businesses. The company also offers
ShoreTel Dock, a docking station for the mobile generation that turns
smart phones and tablets into desk phones; unified messaging solutions;
and Automated Attendant software, which enables the enterprises to
direct callers to appropriate individuals, groups, or messages.
To review Shore's stock, please take a look at the 1-year chart of SHOR (ShoreTel, Inc.) below with my added notations:
SHOR has worked its way higher from its $3.25 bottom in April up to
its sideways move in November. During that sideways trading range, the
stock formed an obvious support level (green) and an $8 resistance
(blue), which was also a 52-week high resistance. Finally, last week
SHOR broke through that $8 resistance.
The Tale of the Tape: SHOR broke out to a new
52-week high and has now pulled back. A long trade could be made at $8
with a stop placed below that level. A break below $8 would negate the
forecast for a continued move higher.
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