iRobot Corporation designs, develops, and markets robots for
consumer, defense and security, telemedicine, and video collaboration
markets worldwide. The company operates in two segments, Home Robots and
Defense and Security Robots. It offers consumer products, including
floor vacuuming and washing robots, floor sweeping robots, and pool and
gutter cleaning robots. The company also provides defense and security
products, such as ground robots comprising 510 PackBot line of small
unmanned ground robots; the small unmanned ground vehicle multi-purpose
ground robots; the 110 FirstLook small, light, and throwable robot; and
the 710 Warrior multi-purpose robot for carrying heavy payloads. It
markets its robots to consumers through chain stores and other national
retailers, as well as through its on-line store; and to the U.S.
military, and other government agencies.
Take a look at the 1-year chart of iRobot (Nasdaq: IRBT) with the added notations:
IRBT has been trending slightly lower over the last 12 months while
repeatedly finding support at $30 (green) whenever that level has been
approached. Now that the stock is almost there again, traders should be
able to expect some sort of bounce. However, if the $30 support were to
break, much lower prices should follow.
The Tale of the Tape: IRBT has a key level of
support at $30. A trader could enter a long position at $30 with a stop
placed under the level. If the stock were to break below the support a
short position could be entered instead.
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