I'm going to copy and paste a rough article by Barron's on the company. I've done further research on the company and I like what I see, and makes sense with the technical entries I'm looking for also.
Barrons
Juniper Networks ( JNPR ), up 20% this year, sells telecom equipment. It’s in the early stages of a cyclical rebound after a pullback in spending a year ago, according to investment bank UBS, which views the company as a takeover candidate for bigger equipment players like Ericsson. After a beat-and-raise quarterly report last month, shares fetch 15 times forward earnings.
Now to the technical entry I'm looking for a pull back to the highlighted area around 26.20/.60 to go long upon confirmation of demand for the stock in that area. Why do I think it can pull back still, because of the daily candlestick bearish pinbars that have formed at the $27 level. Long targets are at the 1.27 & 1.618 Fibonacci extensions. Keepin' it nice and simple. hehe
Cheers, and happy trading =)
Barrons
Juniper Networks ( JNPR ), up 20% this year, sells telecom equipment. It’s in the early stages of a cyclical rebound after a pullback in spending a year ago, according to investment bank UBS, which views the company as a takeover candidate for bigger equipment players like Ericsson. After a beat-and-raise quarterly report last month, shares fetch 15 times forward earnings.
Now to the technical entry I'm looking for a pull back to the highlighted area around 26.20/.60 to go long upon confirmation of demand for the stock in that area. Why do I think it can pull back still, because of the daily candlestick bearish pinbars that have formed at the $27 level. Long targets are at the 1.27 & 1.618 Fibonacci extensions. Keepin' it nice and simple. hehe
Cheers, and happy trading =)
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