Radware (RDWR) : 52 week high and Up in a down market

The past 2 trading sessions have been a down market generally.

But Radware (RDWR) has shown signs of heavy buying; in fact, its volume is above average.

Price level even hit 52 week high on yesterday’s trade.

Among the possible reasons for Radware (RDWR) move includes acquisition.

On the Ichimoku chart, RDWR has retraced back in mid August (around August 15) and has bounced off its support level identified by the 2 small Chikou Span on the left.

The rebound was followed by a quick move to $24 with the Tenkan sen cutting the Kijun sen and this took place above the kumo which suggest a strong bullish move.

The downside for RDWR is the average volume traded is only around 130k. This makes it difficult to place a huge bet on this bullish move as the stock is thinly traded and is seen as the possible risk.

By iam802

Trend trading with Ichimoku