Juniper Networks, Inc. designs, develops, and sells products and
services for high-performance networks worldwide. The Platform Systems
Division segment offers scalable routing and switching products that are
used in service provider, enterprise, and public sector networks to
control and direct network traffic between data centers, core, edge,
aggregation, campus, wide area networks, and consumer and business
devices. The Software Solutions Division segment offers solutions
focused on network security and network services applications for
service providers and enterprise customers. The company also offers
technical support and professional services, as well as educational and
training programs. It sells its network products and services through
direct sales, distributors, value-added resellers, and original
equipment manufacturer partners to end-users in the service provider and
enterprise markets.
Take a look at the 1-year chart of Juniper (NYSE: JNPR) with the added notations:
JNPR was rallying nicely up until the beginning of this year.
However, after declining into April, the stock had been trading sideways
for the last few months while holding an important level of support at
$24 (blue). Last week the stock finally broke that support. After its
recent retest of $24, JNPR should be moving overall lower from here.
The Tale of the Tape: JNPR had a key level of
support at $24. Now that the stock has broken support, a trader might
want to enter a short trade at or near the $24 level with a stop placed
above that level. A break back above $24 could negate the forecast for a
move lower.
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