TMCnet News
Hot Stock: Sycamore Networks, Shares Gain 8.5% (SCMR)Jan 02, 2013 (SmarTrend(R) Spotlight via COMTEX) -- Sycamore Networks (NASDAQ:SCMR) is one of today's best performing low-priced stocks, up 8.5% to $2.43 on 2.5x average daily volume. Thus far today, Sycamore Networks has traded 856,000 shares, vs. average volume of 349,000 shares per day. The stock has outperformed the Dow (8.5% to the Dow's 1.9%) and outperformed the S&P 500 (8.5% to the S&P's 1.8%) during today's trading. Sycamore Networks (NASDAQ:SCMR) has potential upside of 249.8% based on a current price of $2.43 and analysts' consensus price target of $8.50. The stock should run into initial resistance at its 50-day moving average (MA) of $3.66 and subsequent resistance at its 200-day MA of $12.04. Over the past year, Sycamore Networks has traded in a range of $2.11 to $20.16 and is now at $2.43, 15% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 2.7% while the 50-day MA has declined 10.9%. Sycamore Networks, Inc. develops and markets software-based optical networking products. The Company's customers include local exchange carriers, incumbent local exchange carriers, long distance carriers, Internet service providers, cable operators, international telephone companies, and wholesale carriers. SmarTrend recommended that its subscribers protect gains by selling shares of Sycamore Networks on October 12th, 2012 by issuing a Downtrend alert when the shares were trading at $5.10. Since that call, shares of Sycamore Networks have fallen 56.0%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time. 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 |