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Stock to Watch: DragonWave Up 5.8% (DRWI)May 21, 2013 (SmarTrend(R) Spotlight via COMTEX) -- DragonWave (NASDAQ:DRWI) is one of today's best performing low-priced stocks, up 5.8% to $2.94 on 1.4x average daily volume. Thus far today, DragonWave has traded 280,000 shares, vs. average volume of 207,000 shares per day. The stock has outperformed the Dow (5.8% to the Dow's 0.3%) and outperformed the S&P 500 (5.8% to the S&P's 0.3%) 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. DragonWave (NASDAQ:DRWI) is currently priced 37.6% above its average consensus analyst price target of $1.83. The stock should discover initial support at its 200-day moving average (MA) of $2.25 and subsequent support at its 50-day MA of $1.91. DragonWave share prices have moved between a 52-week high of $5.46 and a 52-week low of $1.37 and are now trading 115% above that low price at $2.94 per share. The 200-day and 50-day moving averages have moved 0.08% higher and 2.95% higher over the past week, respectively. SmarTrend recommended that subscribers consider buying shares of DragonWave on May 2nd, 2013 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $2.20. Since that recommendation, shares of DragonWave have risen 26.4%. 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 |