[May 23, 2012] EMC (EMC) Approaches New Downside Target of $25.07 Tweet May 23, 2012 (SmarTrend(R) News Watch via COMTEX) -- EMC (NYSE:EMC) has opened bearishly below the pivot of $25.70 today and has reached the first level of support at $25.33. Should the shares continue to fall, the support pivots of $25.07 and $24.44 will be of interest. There is potential upside of 34.0% for shares of EMC based on a current price of $25.05 and an average consensus analyst price target of $33.57. The stock should hit resistance at its 50-day moving average (MA) of $28.22, as well as support at its 200-day MA of $24.73. In the past 52 weeks, shares of EMC have traded between a low of $19.84 and a high of $30.00 and are now at $25.05, which is 26% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.7% while the 200-day MA has remained constant. SmarTrend recommended that its subscribers protect gains by selling shares of EMC on April 23rd, 2012 by issuing a Downtrend alert when the shares were trading at $27.54. Since that call, shares of EMC have fallen 7.1%. 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 [ Back To TMCnet.com's Homepage ]