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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