TMCnet News
Downgrade Alert for ORBCOMM (ORBC)May 10, 2013 (SmarTrend(R) Upgrades/Downgrades via COMTEX) -- ORBCOMM (NASDAQ:ORBC) was downgraded from Buy to Hold at Craig-Hallum today. The stock closed yesterday at $4.61 on volume of 96,000 shares, below average daily volume of 125,000. Orbcomm, Inc. offers wireless messaging services. The Company operates low earth orbit satellites and ground infrastructure that enable customers to track, monitor, control, and communicate with fixed and mobile assets located anywhere in the world. ORBCOMM (NASDAQ:ORBC) has potential upside of 27.0% based on a current price of $3.74 and analysts' consensus price target of $4.75. The stock should run into initial resistance at its 200-day moving average (MA) of $3.92 and subsequent resistance at its 50-day MA of $4.69. Over the past year, ORBCOMM has traded in a range of $1.98 to $5.40 and closed yesterday at $3.74, 89% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 0.4% while the 50-day MA has declined 0.2%. SmarTrend recommended that its subscribers protect gains by selling shares of ORBCOMM on April 5th, 2013 by issuing a Downtrend alert when the shares were trading at $4.46. Since that call, shares of ORBCOMM have fallen 16.1%. 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 |