TMCnet News
DragonWave Down 9.5%, Shares Slide into the Red (DRWI)Dec 06, 2012 (SmarTrend(R) Spotlight via COMTEX) -- DragonWave (NASDAQ:DRWI) is one of today's worst performing low-priced stocks, down 9.5% to $2.00 on 1.2x average daily volume. DragonWave has traded 291,000 shares thus far today, vs. average volume of 235,000 shares per day. The stock has underperformed the Dow (-9.5% to the Dow's -0.0%) and underperformed the S&P 500 (-9.5% to the S&P's 0.0%) during today's trading. DragonWave has overhead space with shares priced $2.00, or 29.6% below the average consensus analyst price target of $2.84. The stock should run into initial resistance at its 50-day moving average (MA) of $2.21 and subsequent resistance at its 200-day MA of $3.01. In the past 52 weeks, shares of DragonWave have traded between a low of $1.75 and a high of $5.46 and are now at $2.00, which is 14% above that low price. The 200-day and 50-day moving averages have moved 1.06% lower and 0.63% lower over the past week, respectively. DragonWave Inc. provides wireless Ethernet equipment for use in IP networks. The Company designs, develops, and markets carrier-grade microwave radio frequency networking equipment that wirelessly transmit broadband voice, video, and other data. SmarTrend is monitoring the recent change of momentum in DragonWave. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of DragonWave in search of a potential trend change. Write to Chip Brian at [email protected] --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup |