Juniper Networks (JNPR) traded 6% higher on Wednesday morning, after reporting earnings that beat Wall Street expectations. The company reported earnings per share of $0.28 and total revenue of $1.08 billion, compared to analyst expectations of $0.26 and $1.05 billion. Q2 forward guidance is $0.41 to $0.47 and $1.172 to $1.178 billion, compared to expectations of $0.43 and $1.16 billion.
In analyzing the weekly chart below, the JNPR market cycles accurately indicated when the last bottom was due. At this time, the stock is near its resistance zone. As well, the previous cycle high was lower than the one before it, which may indicate weakness. Our opinion is that $27.50 may be tough resistance.
Juniper Networks (JNPR) Stock Chart with Weekly Bars
For an introduction to cycle analysis, check out our Stock Market Cycles video, or watch the askSlim Market Week show every Friday on our YouTube channel.
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