Allot Communications (NASDAQ:ALLT) crossed over its 10-day moving average of $13.62 on a volume of 870K shares. Swing traders may find an opportunity for a long position, as such a crossover often suggests higher prices in the near term.
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.
In the past 52 weeks, Allot Communications share prices have been bracketed by a low of $13.15 and a high of $29.05 and are now at $14.20, 8% above that low price. The 200-day and 50-day moving averages have moved 0.43% lower and 2.13% lower over the past week, respectively.
Allot Communications has overhead space with shares priced $14.20, or 41.2% below the average consensus analyst price target of $24.15. The stock should find initial resistance at its 50-day moving average (MA) of $18.18 and further resistance at its 200-day MA of $23.29.
