Long Position on BLOX @ $29.90 on 6/26/2013 (Momentum)

Bullish Cup & Handle on BLOXInfoblox (BLOX) develops, markets, and sells automated network control solutions worldwide.

Its appliance-based solution combines real-time IP address management with the automation of network control, and network change and configuration management processes in physical and virtual appliances.

The company offers Trinzic Enterprise, an appliance designed to ensure the continuous operation of network control; Trinzic IPAM for Microsoft, which provides a Web-based management interface for the centralized management of DNS, DHCP, and multiple IP address pools running on Microsoft servers; Trinzic Reporting that offers reporting, trending, analysis, and tracking capabilities to report network utilization, isolate performance problems, implement DHCP and DNS capacity planning, and identify security threats; and Trinzic IPAM Insight that allows automated discovery of network device configuration information used in automation and compliance reporting.

It also provides Trinzic NetMRI product, which automates network change and configuration management processes; Trinzic Network Automation that automates network configuration functions; Trinzic Network Compliance, which provides monitoring of network devices; Trinzic Switch Port Manager for viewing and managing switches with current and historical IP addresses, MAC addresses, VLAN mappings, and network device topology information; and PCI Insight that monitors PCI DSS compliance and produces compliance reports.

Infoblox Inc. sells its solution through channel partners, including distributors, integrators, managed service providers, and value-added resellers, as well as through a field sales force. 

Shares have formed a bullish "cup & handle" and are ready to move higher out of this formation. Note that recent selloff in the market has not moved share lowers, per se!

52-Week Trading Range:  $13.73 to $29.90

Entry Point:  $29.90

Stop Loss: $28.40

Target Price: $32.89

Updates

7/26/2013 10:20:37 AM

BLOX was closed at $32.50 after it failed to reach our 10% gains in less than 30 days. We still believe in this stock!

Position closed on 7/26/2013 at price of $32.50 with a 8.70% gain in 30 days.

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