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Rubicon Technology: The Losing Streak Continues (RBCN)

By Shiri Gupta

Rubicon Technology (NASDAQ:RBCN) traded at a new 52-week low today of $4.61. Approximately 132,000 shares have changed hands today, as compared to an average 30-day volume of 596,000 shares.

In the past 52 weeks, shares of Rubicon Technology have traded between the current low of $4.61 and a high of $14.67 and are now at $4.67. Over the last five market days, the 200-day moving average (MA) has gone down 0.7% while the 50-day MA has declined 3.1%.

Potential upside of 74.5% exists for Rubicon Technology, based on a current level of $4.67 and analysts' average consensus price target of $8.15. Rubicon Technology shares should first meet resistance at the 50-day moving average (MA) of $6.73 and find additional resistance at the 200-day MA of $9.33.

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 August 4th, 2014 by issuing a Downtrend alert when the shares were trading at $7.61. Since that call, shares of Rubicon Technology have fallen 37.7%. 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