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Traders Get Bullish on Shares of Sycamore Networks, Shares Up 8.1% (SCMR)Jan 10, 2013 (SmarTrend(R) Spotlight via COMTEX) -- Sycamore Networks (NASDAQ:SCMR) is one of today's best performing low-priced stocks, up 8.1% to $2.41 on 1.8x average daily volume. Thus far today, Sycamore Networks has traded 570,000 shares, vs. average volume of 323,000 shares per day. The stock has outperformed the Dow (8.1% to the Dow's 0.0%) and outperformed the S&P 500 (8.1% to the S&P's 0.2%) during today's trading. 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. Sycamore Networks (NASDAQ:SCMR) has potential upside of 24.5% based on a current price of $2.41 and analysts' consensus price target of $3.00. Sycamore Networks shares should first meet resistance at the 50-day moving average (MA) of $3.22 and find additional resistance at the 200-day MA of $11.56. In the past 52 weeks, Sycamore Networks share prices have been bracketed by a low of $2.11 and a high of $20.16 and are now at $2.41, 14% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 6.4% while the 200-day MA has slid 2%. 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 56.2%. 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 |