Categories
Tech

Radware Ltd (NASDAQ:RDWR) : Bull short candidate

An update to my last post on a possible bull short on RDWR.

My last post highlighted that RDWR has moved up a lot within a short timeframe and the stock has failed to go higher.

Since my last post, RDWR has struggled to go higher above $23 and in most days it is with low volume.

In fact, most of the buyers seems to have exited their long positions.

Today, RDWR gap down on opening. Pretty much thanks to the news from Goldman Sachs.

On the Ichimoku chart, it is now sitting on the Support level of $22.06 as identified by the Chikou Span.

If it breaks this level, it may go to $21.