TMCnet News
Traders Get Bullish on Shares of DragonWave, Shares Up 5.1% (DRWI)Dec 18, 2012 (SmarTrend(R) Spotlight via COMTEX) -- DragonWave (NASDAQ:DRWI) is one of today's best performing low-priced stocks, up 5.1% to $2.49 on 1.1x average daily volume. Thus far today, DragonWave has traded 233,000 shares, vs. average volume of 205,000 shares per day. The stock has outperformed the Dow (5.1% to the Dow's 0.7%) and outperformed the S&P 500 (5.1% to the S&P's 0.8%) during today's trading. DragonWave (NASDAQ:DRWI) is currently priced 7.5% above its average consensus analyst price target of $2.30. The stock should hit resistance at its 200-day moving average (MA) of $2.90, as well as support at its 50-day MA of $2.21. DragonWave Inc. provides wireless Ethernet equipment for use in IP networks. The Company designs, develops, and markets carrier-grade microwave radio frequency networking equipment that wirelessly transmit broadband voice, video, and other data. DragonWave share prices have moved between a 52-week high of $5.46 and a 52-week low of $1.75 and are now trading 42% above that low price at $2.49 per share. Over the past week, the 200-day moving average (MA) has gone down 2% while the 50-day MA has advanced 0.2%. SmarTrend is tracking the current trend status for DragonWave and will alert subscribers who have DRWI in their portfolio or watchlist when shares have changed trend direction. 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 |