user warning: Got error 28 from storage engine query: SELECT t.* FROM term_node r INNER JOIN term_data t ON r.tid = t.tid INNER JOIN vocabulary v ON t.vid = v.vid WHERE r.vid = 463762 ORDER BY v.weight, t.weight, in /var/www/ on line 617.

Possible Bullish Inside Day Candle Pattern Detected for Allot Communications (NASDAQ:ALLT)

Published on Thu, 03/21/2013 - 07:36
By Robert Cotter

Analysts have spotted a possible bullish inside day candle pattern in Allot Communications (NASDAQ:ALLT) based on the price action in the company's shares. Yesterday's price range of $13.72 and $14.06 is within the prior day's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Traders and investors interested in shares of Allot Communications may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Allot Communications share prices have moved between a 52-week high of $29.05 and a 52-week low of $12.38 and closed yesterday at 12% above that low price at $13.84 per share. Over the last five market days, the 200-day moving average (MA) has gone down 0.8% while the 50-day MA has declined 0.2%.

Allot Communications has overhead space with shares priced $13.84, or 31.8% below the average consensus analyst price target of $20.30. The stock should find initial resistance at its 50-day moving average (MA) of $13.90 and further resistance at its 200-day MA of $21.28.

Allot Communications Ltd. designs and develops broadband service optimization solutions using advanced deep packet inspection (DPI) technology. The Company provides their customers with real-time highly granular visibility into network traffic and enables them to effectively manage and optimize their networks.

By Robert Cotter