TMCnet News
Panasonic Up 5.6%, Shares Break Through Resistance (PC)Nov 15, 2012 (SmarTrend(R) Spotlight via COMTEX) -- Panasonic (NYSE:PC) is one of today's best performing low-priced stocks, up 5.6% to $4.89 on 1.5x average daily volume. Panasonic has traded 637,000 shares thus far today, vs. average volume of 425,000 shares per day. The stock has outperformed the Dow (5.6% to the Dow's -0.2%) and outperformed the S&P 500 (5.6% to the S&P's -0.2%) during today's trading. Panasonic Corporation manufactures electric and electronic products. The Company produces home appliances, audio & video, computer peripherals, telecommunications, industrial equipment, and electronic parts. Panasonic has associated companies around the world. Potential upside of 69.9% exists for Panasonic, based on a current level of $4.89 and analysts' average consensus price target of $8.31. Panasonic shares should first meet resistance at the 50-day moving average (MA) of $6.55 and find additional resistance at the 200-day MA of $7.48. Panasonic share prices have moved between a 52-week high of $9.56 and a 52-week low of $4.61 and are now trading 6% above that low price at $4.89 per share. In the last five trading sessions, the 50-day moving average (MA) has fallen 2.1% while the 200-day MA has slid 0.6%. SmarTrend recommended that its subscribers protect gains by selling shares of Panasonic on October 9th, 2012 by issuing a Downtrend alert when the shares were trading at $6.23. Since that call, shares of Panasonic have fallen 25.7%. 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 |