JNPR: Look for a Breakout Run to New Highs

by Sam Collins | February 10, 2014 7:00 am

JNPR: Look for a Breakout Run to New Highs

Juniper Networks (JNPR[1]) — This information technology company provides Internet Protocol networking products and services with an emphasis on telecom routing solutions.

S&P sees an opportunity for Juniper to leverage its leading position in the carrier market toward the enterprise networking sector. S&P expects a 4.4% revenue increase in 2014, and an 11.3% increase in 2015. Earnings of $0.86 were reported in 2013, and S&P has an estimate of $0.96 in 2014 and $1.22 in 2015.

In January, JNPR broke from a five-month consolidation on very high-volume buying. A breakaway gap at $24 was followed by a continuation gap at about $26. The second gap was closed last week by a bullish flag that found support at the 20-day moving average (green line). MACD is arching up from an oversold reading. 

Look for a break above $28 and a run to a new high of $32. A stop-loss order should be placed at $23.50.

02 10 14 jnpr 300x192 JNPR: Look for a Breakout Run to New Highs
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chart key 300x84 JNPR: Look for a Breakout Run to New Highs[2]

Endnotes:
  1. JNPR: http://studio-5.financialcontent.com/investplace/quote?Symbol=JNPR
  2. [Image]: http://investorplace.com/wp-content/uploads/2013/05/chart-key.gif

Source URL: http://investorplace.com/2014/02/trade-day-juniper-networks-jnpr/
Short URL: http://invstplc.com/1h3tfNN