Bitcoin sets a new all-time high above $6,000 >>> READ MORE

JNPR: Look for a Breakout Run to New Highs

A continuation gap was closed last week by a bullish flag


Juniper Networks (JNPR) — 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.

JNPR Chart
Click to Enlarge

Chart Key

Article printed from InvestorPlace Media,

©2017 InvestorPlace Media, LLC