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Stock to Watch: Mitek Systems Down 6.7% (MITK)
[December 10, 2012]

Stock to Watch: Mitek Systems Down 6.7% (MITK)

Dec 10, 2012 (SmarTrend(R) Spotlight via COMTEX) -- Mitek Systems (NASDAQ:MITK) is one of today's worst performing low-priced stocks, down 6.7% to $3.22 on 1.3x average daily volume. Thus far today, Mitek Systems has traded 286,000 shares, vs. average volume of 220,000 shares per day. The stock has underperformed the Dow (-6.7% to the Dow's 0.2%) and underperformed the S&P 500 (-6.7% to the S&P's 0.2%) during today's trading.

Mitek Systems is the leader in mobile-imaging solutions, achieved through 25 years of R & D, patented technology and extensive experience in extractive imaging. The company invented and patented leading software solutions that allow consumers to use the cameras on their smartphones and tablets to deposit checks, pay bills, get quotes and transfer balances ... all by just snapping photos of documents. Offering outstanding customer experience and convenience while driving operational efficiencies, Mitek Systems' solutions enable organizations across industries to differentiate themselves from their competitors, attract and retain customers and ultimately increase their revenue and profitability. Current products include Mobile Deposit(R), Mobile Photo Bill Pay(TM), Mobile Balance Transfer(TM), Mobile ACH Enrollments(TM), Mobile Receipt(TM) and the Mobile Imaging Cloud(TM) platform.

Mitek Systems share prices have moved between a 52-week high of $13.11 and a 52-week low of $1.90 and are now trading 69% above that low price at $3.22 per share. The 200-day and 50-day moving averages have moved 2.47% lower and 3.98% lower over the past week, respectively.

Mitek Systems (NASDAQ:MITK) is currently priced 10.7% above its average consensus analyst price target of $2.88. The stock should find resistance at its 200-day moving average (MA) of $5.03, as well as support at its 50-day MA of $3.06.

SmarTrend is monitoring the recent change of momentum in Mitek Systems . Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Mitek Systems in search of a potential trend change.

Write to Chip Brian at --------------------------------------------------------------------------------------------- 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 Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at:

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