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Hot Stock: DragonWave, Shares Drop 20.2% (DRWI)Jan 10, 2013 (SmarTrend(R) Spotlight via COMTEX) -- DragonWave (NASDAQ:DRWI) is one of today's worst performing low-priced stocks, down 20.2% to $2.73 on 1.9x average daily volume. DragonWave has traded 714,000 shares thus far today, vs. average volume of 366,000 shares per day. The stock has underperformed the Dow (-20.2% to the Dow's 0.0%) and underperformed the S&P 500 (-20.2% to the S&P's 0.2%) during today's trading. 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. Based on a current price of $2.73, DragonWave is currently 15.7% above its average consensus analyst price target of $2.30. The stock should hit resistance at its 200-day moving average (MA) of $2.85, as well as support at its 50-day MA of $2.53. Over the past year, DragonWave has traded in a range of $1.75 to $5.46 and is now at $2.73, 56% above that low. Over the past week, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has advanced 2.8%. SmarTrend recommended that subscribers consider buying shares of DragonWave on November 30th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $2.32. Since that recommendation, shares of DragonWave have risen 47.4%. We continue to monitor DRWI 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 |