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Do FireEye Technicals Show Upside? This Expert Thinks So

Do FireEye Technicals Show Upside? This Expert Thinks So
FireEye to Announce Q4, FY 2013 Results on February 11, 2014, After the Market Close

FireEye Inc (NASDAQ: FEYE) will report Q4 earnings following the market close on Wednesday. The Street expects a loss per share of $0.49 on revenue of $141.44 million.

During the past month the stock has climbed over 7 percent amid growing concern over cybersecurity breaches.

Technical trading expert Serge Berger commented on the stock ahead of the earnings release.

Berger noted that “through a technical lens, the stock is at a huge spot,” and that traders may see significant upside in the coming months.

“After building a bottom since May of 2014, the stock is at a major resistance level near $37,” according to his analysis.

Berger felt that “if the stock can power through” the $37 level, then the upside opens up for it to move “toward $50 from a multi-month perspective.”

Heading into the earnings release, shares of FireEye Inc traded at $36.15, down 1.00 percent.

Image credit: David, Flickr

Posted-In: Serge BergerAnalyst Color Previews Analyst Ratings Trading Ideas Best of Benzinga


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