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Rubicon Technology: The Losing Streak Continues (RBCN)

By David Diaz

Rubicon Technology (NASDAQ:RBCN) traded today at a new 52-week low of $2.62. Approximately 62,000 shares have changed hands today, as compared to an average 30-day volume of 182,000 shares.

Rubicon Technology (NASDAQ:RBCN) has potential upside of 73.3% based on a current price of $2.75 and analysts' consensus price target of $4.77. Rubicon Technology shares should first meet resistance at the 50-day moving average (MA) of $3.61 and find additional resistance at the 200-day MA of $4.40.

Rubicon Technology share prices have moved between a 52-week high of $14.67 and the current low of $2.62 and are currently at $2.75 per share. In the last five trading sessions, the 50-day moving average (MA) has fallen 2.8% while the 200-day MA has slid 1.5%.

Rubicon Technology, Inc. develops, manufactures, and sells monocrystalline sapphire and other crystalline products. The Company's products are used in Light-Emitting Diodes ("LEDs"), radio frequency integrated circuits ("RFICs"), blue laser diodes, and optoelectronics and other optical applications.

SmarTrend recommended that its subscribers protect gains by selling shares of Rubicon Technology on December 17th, 2014 by issuing a Downtrend alert when the shares were trading at $3.94. Since that call, shares of Rubicon Technology have fallen 31.7%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: 52 week high/lows rubicon technology

Ticker(s): RBCN