Turn Up The Volume on AudioCodes $AUDC (November 14, 2019)

by DAN AUDC 
This is Scott with Stock Market Mentor. I want to take a look at AudioCodes ( NASDAQ: AUDC ). For a long time AudioCodes ( NASDAQ: AUDC ) was a pretty reliable range trade. If I draw some trendlines here you can see for a while it just kind of stayed in this range. You buy at the bottom of the range you sell at the top. You buy at the bottom you sell at the top. Wash, rinse, repeat; it worked out pretty good for a while.

Just before November AudioCodes ( NASDAQ: AUDC ) had earnings and earnings were pretty good. Ever since earnings came out AudioCodes ( NASDAQ: AUDC ) has gapped up, held that gap, and has just kind of been drifting sideways and doing it on decreasing volume. Now, when it goes up like it did here, it goes up on high volume, pulls back on less volume.

Today it went up on almost higher than average volume, so it’s getting closer and closer to this 22.20 pivot here. That’s a level that was acting as resistance before and that’s the level we need AudioCodes ( NASDAQ: AUDC ) to break. So I would definitely have an alert set at 22.20 here on AudioCodes ( NASDAQ: AUDC ). If we get a breakout your stop-loss area would be right around that 21.13 level. So keep an eye on AudioCodes ( NASDAQ: AUDC ).

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