Juniper Sharply Higher After Q3 Beat, Raised Guidance

Juniper Networks, Inc. JNPR shares are trading higher by $2.55 at $26.27 in Wednesday's session. The catalyst for the rally is Q3 EPS beat of $0.06 along with slight beat for sales.The company also bumped up its Q4 outlook for EPS and sales.

Following a sharply higher open, it only retreated to $0.19 to $25.40 before continuing its move higher. So far, the ensuing rally has taken the issue to $26.48, but hasn't really backed off that high.

If the rally continues, there may be additional resistance at its January 7 high ($26.81) as well as its January 6 high ($27.14). Its 2016 high was made on January 5 at $27.73.