Barracuda Networks, Inc. (NYSE:CUDA) Daily Technical Review & Outlook

Barracuda Networks, Inc. (NYSE:CUDA) fell by -2.12% in Thursday’s trading session from $22.65 to $22.17 and has now fallen 3 consecutive sessions. The stock price went upward in 6 of the last 10 days, but has retreated -7.82% over the same course of time. There was a decrease in both volume and price. This is usually interpreted as a good sign as traders widely believe falling stock should see declining volume. Traded activity experienced a fall of -4.47 million shares and in total 3.93 M shares exchanged hands for about $87.09 million.

Inside CUDA’s Recent Trend

Barracuda Networks, Inc. (CUDA) has broken the wide and weak rising short-term trend down. This signalize a slower rising rate, but may also be an early warning about a possible trend shift. Due to trend being broken there will now be resistance at the bottom line of the trend at $23.08. A reaction back to this level may hold a second chance to get out before further falls.

Barracuda Networks, Inc. Technical Signals

CUDA has witnessed its long term and short term MA triggering a sell signal. Upon corrections, the price will meet resistance from the averages between $24.72 and $24.16. A buy signal will be generated if it crosses above any of these levels. Its pivot point high generated sell signal on Friday October 06, 2017, which calls for additional declines until the stock forms a new pivot point low, as this could be a buying opportunity. The downbeat movement of both volume and price during the recent session is interpreted as a good sign because traders usually believe falling stock should see declining volume.

Barracuda Networks, Inc. (NYSE:CUDA) Support And Resistance Levels

Barracuda Networks, Inc. (CUDA) recorded volume accumulation so there will probably be a surplus of buyers at $21.81. In case of gains, the next resistance from accumulated volume will not be far away from today’s level at $22.65, $23.59 and $24.01.

Accumulated volume is going to prevent the price from rising further at $22.65 and this action will lead the price to take a temporary pause or stay muted for a few days.

Barracuda Networks, Inc. (CUDA) Risk Assessment

The number of shares changed hands in the stock is good, indicating the interest and low risk associated with it. In the most recent session, the stock price hovered around $0.73 (3.32%) between intraday high and intraday low. Each day in the past 1 week, the average volatility remained at 3.53%.

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