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.
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