Acme Packet Rises, Looks to Breakout

Shares of Acme Packet

are running higher this afternoon. Currently, shares are higher by 6.01%, trading at $48.33. APKT just touched an intra-day high of $49.00 on higher than normal volume. Acme Packet has been running lower for the past six months following a high volume top in late-April. They have bounced off of the $40 level and are now testing the 20-day moving average from below. If shares can breech and hold the level, a rally could ensue up to, at least, the $53.00 level. Traders can play the potential break by buying shares here and placing a stop loss just below $47.00. If shares were to break the $47.00 level, it is likely that this was a false move, which would have shares test, at least, $44.18. Note that Acme Packet has 4.92% short interest. Acme Packet, Inc. is a provider in session border control solutions, which enable the delivery interactive communications, such as voice, video and multimedia sessions, and data services across Internet protocol (

), network borders.