Can Bandwidth (BAND) Break Back?

Bandwidth, Inc. (BAND) provides cloud-based communications services. It offers data Internet, voice/voice over Internet protocol, messaging, managed network and conferencing services. The firm serves the telecom needs of small and medium businesses:

Take a look at the 1-year chart of Bandwidth (BAND) below with added notations:

Through most of last year, BAND had formed, and held, a very important level of support at $140 (blue). The stock ended up breaking below that support in March, eventually falling down to the $110 area. BAND is making it back up to that $140 breakdown level, which may now act as resistance. A break above $140 should lead to even higher prices.

BAND broke a key level of support at $140. A trader could enter a short position on any rallies up to or near $140 with a stop placed above the level. If the stock were to break back above the $140 level, a long position might be entered instead.

Want to Discover More Great Trades?

I have explored virtually every flavor of technical analysis and chart pattern known to mankind. The sad fact is that the vast majority of them don’t work at all.

That is why I recently put together this special report to help investors focus on the only 5 chart patterns that matter…the ones that lead to the most timely and profitable stock trades. Click below to get your copy now!

5 WINNING Stock Chart Patterns

Have a good trading day!

Good luck!

Christian Tharp, CMT