Tuesday, Aug 1, 2017
 
 

Gigamon (NYSE: GIMO)

 

Gigamon Inc. develops and delivers solution that delivers visibility and control of data-in-motion traversing enterprise, federal, and service provider networks in the United States, rest of Americas, Europe, the Middle East, Africa, and the Asia Pacific.

Take a look at the 1-year chart of Gigamon (NYSE: GIMO) with the added notations:

GIMO has been bouncing on top of a $37.50 support (green) for the past couple of months.  Now that the stock appears to have started to roll back down towards that support again, traders should be able to expect some sort of bounce. However, if the $37.50 support level breaks, lower prices should follow.

ATTENTION SUBSCRIBERS!

Join our Linkedin group by clicking the link below to receive free updates, trade ideas, and commentary:

Stock Trading & Investing for Everyone

The Tale of the Tape: GIMO has a key area of support at $37.50. A trader could enter a long position at $37.50 with a stop placed under the level. If the stock were to break below the support, a short position could be entered instead.

Before making any trading decision, decide which side of the trade you believe gives you the highest probability of success. Do you prefer the short side of the market, long side, or do you want to be in the market at all? If you haven’t thought about it, review the overall indices themselves. For example, take a look at the S&P 500. Is it trending higher or lower? Has it recently broken through a key resistance or support level? Making these decisions ahead of time will help you decide which side of the trade you believe gives you the best opportunities.

No matter what your strategy or when you decide to enter, always remember to use protective stops and you’ll be around for the next trade.  Capital preservation is always key!

Good luck!

Christian Tharp, CMT

@cmtstockcoach

 
 

Christian Tharp, CMT

Want to know which trades to make, how to manage your stops and when to exit your trades? As a CMT with over a decade worth of experience in trading & mentoring traders, I’d like to offer you the opportunity to let me help you overcome all of your obstacles.

Click Here
 
 
 
 
Web Analytics