Nimble Storage, Inc. provides flash-optimized hybrid storage
platform. The company’s software and storage systems handle various
mainstream applications, including virtual desktops, databases, email,
collaboration, and analytics. It offers systems that provide adaptive
performance for high-input/output and high-capacity mainstream business
applications and environments, such as Exchange, Oracle, SharePoint, SQL
Server, virtual desktop infrastructure, and server virtualization. The
company sells its products through a network of value added resellers
and distributors to a range of industries comprising cloud-based service
providers, education, financial services, healthcare, manufacturing,
state and local government, and technology worldwide. Nimble Storage,
Inc. was incorporated in 2007 and is headquartered in San Jose,
California.
Take a look at the 1-year chart of Nimble (NYSE: NMBL) below with the added notations:
NMBL fell right off the cliff back in March, April and May before
finally settling into a very long, sideways trend that has lasted about
10 months. During the sideways move the stock has shown a tendency to
find repeated support at $25 (blue). Whenever that level was to break,
the stock would fall to the next level down at $22 (red). NMBL is
currently sitting right at $25.
The Tale of the Tape: NMBL has key levels at $22 and
$25. A trader could enter a long position at $25 with a stop placed
under the level. However, a short trade could be made instead if the
stock were to break below $25 with the expectation of a fall down to
$22. Another long trade could be considered if the fall to $22 were to
happen.
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