Xyratex Trading Close to Calculated Resistance

According to Traders Huddle, Xyratex Ltd. (NASDAQ:XRTX) shares are trading very close to calculated resistance at $10.24. With the current price action closing at just $9.97, the stock is near levels that make it difficult to buy. The company provides enterprise class data storage subsystems and network technology, and designs and manufactures enabling technology that supports high-performance storage and data communication networks.

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"Traders don't have a clear entry point for Xyratex, as the stock is well above support, however, as the stock pulls back towards $9.57 it will definitely provide a reference point to establish a trade. On the other hand if the stock decides to break above resistance level at $10.24 then traders will get an opportunity to enter Xyratex stock by establishing a position as the stock moves to a higher range.”

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