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

Trade of the Day: Sonus Networks (SONS)

For such a cheap stock, it has a lot of near-term upside potential.


Communications tech stock Sonus Networks (SONS) is in a bullish setup is in a pullback channel and, based on the technicals, it looks like it’s going to bust out of that pullback channel.

Like a lot of stocks, SONS has come back in with the 7% market decline in recent weeks, so it’s offering an attractive entry price in its current $3 range. It’s chart is telling me it has the potential to move to the $5.00 area during the summer.

Sonus Network SONS
Click to Enlarge

InvestorPlace advisor John Lansing tracks the charts all day and offers expert technical analysis in his day trading, options and trading services: Power Trading at the OpenParabolic Options andTrending123.  Trending123 members receive access to the Trending123 Pattern Scan powered by Recognia free as part of their membership.

Article printed from InvestorPlace Media,

©2017 InvestorPlace Media, LLC