TMCnet News
Sonus Networks Up 9.0%, Shares Break Through Resistance (SONS)Jan 03, 2013 (SmarTrend(R) Spotlight via COMTEX) -- Sonus Networks (NASDAQ:SONS) is one of today's best performing low-priced stocks, up 9.0% to $2.13 on 2.1x average daily volume. Thus far today, Sonus Networks has traded 3.1 million shares, vs. average volume of 1.5 million shares per day. The stock has outperformed the Dow (9.0% to the Dow's -0.2%) and outperformed the S&P 500 (9.0% to the S&P's -0.1%) during today's trading. In the past 52 weeks, Sonus Networks share prices have been bracketed by a low of $1.36 and a high of $3.11 and are now at $2.12, 56% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.8% while the 50-day MA has declined 0.2%. Sonus Networks has overhead space with shares priced $2.12, or 26.7% below the average consensus analyst price target of $2.90. The stock should find initial support at its 200-day moving average (MA) of $2.08 and further support at its 50-day MA of $1.67. Sonus Networks, Inc. provides voice infrastructure products. The Company's hardware and software enables customers to deploy an integrated, packet-based network carrying both voice and data traffic. Sonus markets and sells its products to service providers, including long distance carriers, wholesale carriers, Internet service providers, and cable operators. SmarTrend recommended that subscribers consider buying shares of Sonus Networks on December 18th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $1.79. Since that recommendation, shares of Sonus Networks have risen 9.2%. We continue to monitor SONS 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 |