magicJack VocalTec Ltd., together with its subsidiaries, operates as a
cloud-based communications company that provides
voice-over-Internet-Protocol (VoIP) services in the United States. The
company’s products and services allow users to make and/or receive free
telephone calls to and from where the customer has broadband access to
the Internet. It offers magicJack VoIP device that enables customers to
receive phone service for their home, enterprise, or while traveling;
and magicJack PLUS, which contains a System on a Chip that connects a
regular phone directly to the user’s broadband modem/router and function
as a standalone phone without using a computer.
To review magicJack’s stock, please take a look at the 6-month chart
of CALL (magicJack VocalTec Ltd.) below with my added notations:
CALL has formed a key price level of at $20.00 (purple) over the last
(2) months that had most recently been support. In addition, the stock
has potentially a down trending resistance that starts in mid-March
(blue). The stock has started to recover from below $18 and should be
approaching the $20 level soon, which may be where the down trending
resistance is at that time.
The Tale of the Tape: CALL is approaching
potentially 2 resistances at $20. A short trade could be made on a rally
up to $20, while a break above $20 would set up a potential long trade.
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