Tuesday, 22 March 2016

INFN - swinging from resistance to support

Whilst the broader equity market closed moderately mixed, there was notable weakness in Infinera (INFN), which settled -7.4% @ $15.57. INFN has swung from natural resistance around the $17 threshold, to rising support in the low $15s. Broadly, the stock looks vulnerable to the psy' level of $10 this year.

INFN, daily


Infinera is a tech', involved in networking.

I happen to like the company, but if the broader market rolls lower again this spring, and into the summer, INFN will probably cool to the $10 threshold.

At that level, I'd be interested in it. For now, I've no interest in short individual companies, not least anything that is not part of the Dow'30.