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Internap Network Services: The Losing Streak Continues (INAP)

By Amy Schwartz

Internap Network Services (NASDAQ:INAP) traded at a new 52-week low today of $1.50. So far today approximately 69,000 shares have been exchanged, as compared to an average 30-day volume of 279,000 shares.

Internap Network Services Corporation provides a broad range of scalable information technology infrastructure services for enterprises including colocation, managed hosting, optimized IP connectivity and content delivery services.

Over the past year, Internap Network Serviceshas traded in a range of $1.50 to $10.75 and are now at $1.50. The 200-day and 50-day moving averages have moved 2.72% lower and 0.29% lower over the past week, respectively.

Internap Network Services (NASDAQ:INAP) has potential upside of 531.3% based on a current price of $1.50 and analysts' consensus price target of $9.47. Internap Network Services shares should first meet resistance at the 50-day moving average (MA) of $2.60 and find additional resistance at the 200-day MA of $5.63.

SmarTrend recommended that its subscribers protect gains by selling shares of Internap Network Services on September 15th, 2016 by issuing a Downtrend alert when the shares were trading at $1.81. Since that call, shares of Internap Network Services have fallen 15.5%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: 52 week high/lows internap network services

Ticker(s): INAP