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Trade Alert: PLCM

|Includes:Polycom, Inc. (PLCM)
PLCM, Support Resistance, Highs, Lows

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Polycom looks like it can continue it’s breakout move. It was a strong stock today in a weak market. Over the past four trading sessions the stock has been making higher highs and higher lows, a indication of a bullish move.  There is widening of the moving averages and looks like the 15SMA will cross above through the 20SMA.  PLCM is trading near its 52 weeks highs of 61.70. Tomorrow, look for the continuation of todays move and for resistnace at the 52 weeek high. The level of support to watch is the 8SMA 58.15.Intra day there are two levels of support first is 60.60 and then 59.91 Right now look to be cautious with any trades given the current way the market is trading. There is room for this stock to go if it has the strength to break through the highs. If the 8SMA does not act as support and trades through there look at 57.50 as  the next support level.

Stocks: PLCM