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Stocks Under $10 with 50-100% upside potential - 14 days FREE!

5 Big Stocks to Trade for Gains in April

Juniper Networks

It's been a rough year for shares of network infrastructure firm Juniper Networks (JNPR) -- shares of the $11 billion firm have slid more than 47% in the last 12 months, dragged lower by a combination of underwhelming fundamental performance and market headwinds in the latter half of 2011. But now this stock could be on the upswing.

Juniper is currently forming an ascending triangle bottom, a setup that's formed by the combination of horizontal resistance above shares and uptrending support below them. Essentially, as shares bounce in between those two technical levels, they're getting squeezed closer and closer to a breakout above resistance (at $25, in Juniper's case). When that breakout happens, traders have a high-probability buy signal on their hands.

The $25 resistance level in Juniper coincides with a gap that the firm formed after posting third-quarter numbers that came in well short of expectations. That gap could get filled quickly once the breakout happens -- that's a good sign. So is our momentum gauge, 14-day RSI; with momentum in an uptrend since the start of last summer, we've got a good indication that buying continues to accelerate right now. Because momentum is a leading indicator of price, that fact adds some major assurance to this pattern.

Still, I wouldn't be a buyer unless JNPR closed above $25.

Juniper shows up on a list of Tech Stocks to Look Out for in 2012.

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