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Bullish Moving Average Cross by Allot Communications (ALLT)

Published on Tue, 04/23/2013 - 11:26
By Robert Cotter

Allot Communications (NASDAQ:ALLT) crossed over its 10-day moving average of $11.40 on a volume of 184K shares. This may provide swing traders with 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.

Allot Communications has overhead space with shares priced $11.60, or 42.9% below the average consensus analyst price target of $20.30. The stock should run into initial resistance at its 50-day moving average (MA) of $13.09 and subsequent resistance at its 200-day MA of $19.69.

In the past 52 weeks, Allot Communications share prices have been bracketed by a low of $10.75 and a high of $29.05 and are now at $11.60, 8% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 1.3% while the 200-day MA has slid 1.2%.

By Robert Cotter
rcotter@fnno.com