TMCnet News
Downgrade Alert for NetSuite (N)Jan 18, 2013 (SmarTrend(R) Upgrades/Downgrades via COMTEX) -- NetSuite (NYSE:N) was downgraded from Conviction Buy to Neutral at Goldman Sachs today. The stock closed yesterday at $67.72 on volume of 101,000 shares, below average daily volume of 350,000. NetSuite Inc. provides relationship management software solutions . The Company offers a comprehensive suite of enterprise resource planning, or ERP, customer relationship management, or CRM, and e-commerce solutions. NetSuite (NYSE:N) defies analysts with a current price ($67.72) 11.2% above its average consensus price target of $60.17. The stock should discover initial support at its 50-day moving average (MA) of $63.51 and subsequent support at its 200-day MA of $55.76. NetSuite share prices have moved between a 52-week high of $70.80 and a 52-week low of $38.68 and closed yesterday at 75% above that low price at $67.72 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.6% while the 200-day MA has risen 0.6%. SmarTrend recommended that subscribers consider buying shares of NetSuite on October 26th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $64.29. Since that recommendation, shares of NetSuite have risen 5.3%. We continue to monitor N for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately. 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 |