ShoreTel, Inc., together with its subsidiaries, provides Internet protocol (IP) unified communications (UC) systems for enterprises in the United States and internationally. The company's systems are based on its distributed software architecture and switch-based hardware platform that enable multi-site enterprises to be served by a single telecommunications system. Its solutions include ShoreTel IP Phones; ShoreTel Voice Switches; ShoreTel Service Appliances; ShoreTel Director, which enables IT administrators to view and manage the entire system of the enterprise from any location using a single application; and Small Business Edition for smaller businesses. The company also offers ShoreTel Dock, a docking station for the mobile generation that turns smart phones and tablets into desk phones; unified messaging solutions; and Automated Attendant software, which enables the enterprises to direct callers to appropriate individuals, groups, or messages.
To review Shore's stock, please take a look at the 1-year chart of SHOR (ShoreTel, Inc.) below with my added notations:
SHOR has worked its way higher from its $3.25 bottom in April up to its sideways move in November. During that sideways trading range, the stock formed an obvious support level (green) and an $8 resistance (blue), which was also a 52-week high resistance. Finally, last week SHOR broke through that $8 resistance.
The Tale of the Tape: SHOR broke out to a new 52-week high and has now pulled back. A long trade could be made at $8 with a stop placed below that level. A break below $8 would negate the forecast for a continued move higher.
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