Citrix Flirts With Crucial Support
Nicholas Santiago | Aug 09, 2017 12:43PM ET
Technology leader Citrix Systems (NASDAQ:CTXS) is trading at an important support level right now. The stock is basically sitting on its 50-week moving average at $75.97. If CTXS breaks this important chart level on a weekly closing basis, it will likely signal a move lower in the share price. The next major support level for CTXS is around the $72.90 level — a major retrace spot where institutional traders often defend the stock. It's also an area where Citrix broke out earlier this year, so keep it on your near-term radar.
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