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Excel Maritime Carriers Up 6.5%, Shares Break Through Resistance (EXM)
Feb 14, 2012 (SmarTrend(R) Spotlight via COMTEX) --
Excel Maritime Carriers (NYSE:EXM) is one of today's best performing low-priced stocks, up 6.5% to $2.29 on 2.8x average daily volume. Excel Maritime Carriers has traded 2.4 million shares thus far today, vs. average volume of 862,000 shares per day. The stock has outperformed the Dow (6.5% to the Dow's -0.2%) and outperformed the S&P 500 (6.5% to the S&P's -0.3%) during today's trading.
Excel Maritime Carriers Ltd. owns and operates dry bulk carrier vessels and provides worldwide sea borne transportation services for dry bulk cargo. Excel's business strategy is to expand and diversify its fleet to achieve economies of scale and marketing strength in each of the drybulk sectors in which it operates.
Over the past year, Excel Maritime Carriers has traded in a range of $1.37 to $5.35 and is now at $2.29, 67% above that low. The 200-day and 50-day moving averages have moved 1.3% lower and 0.80% higher over the past week, respectively.
Excel Maritime Carriers (NYSE:EXM) defies analysts with a current price ($2.29) 23.3% above its average consensus price target of $1.76. The stock should hit resistance at its 200-day moving average (MA) of $2.39, as well as support at its 50-day MA of $1.67.
SmarTrend is monitoring the recent change of momentum in Excel Maritime Carriers. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Excel Maritime Carriers in search of a potential trend change.
Write to Chip Brian at cbrian@mysmartrend.com
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