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Watch for Continued Losses in Shares of Boingo Wireless (WIFI)

By David Diaz

Boingo Wireless (NASDAQ:WIFI) traded today at a new 52-week low of $11.91. This new low was reached on below average trading volume as 56,000 shares traded hands, while the average 30-day volume is approximately 786,000 shares.

Boingo Wireless, Inc., together with its subsidiaries, provides wireless connectivity solutions for smartphones, tablets, laptops, wearables, and other wireless-enabled consumer devices.

There is potential upside of 157.9% for shares of Boingo Wireless based on a current price of $11.91 and an average consensus analyst price target of $30.72. Boingo Wireless shares should first meet resistance at the 50-day moving average (MA) of $16.98 and find additional resistance at the 200-day MA of $21.63.

In the past 52 weeks, Boingo Wireless share prices have been bracketed by a current low of $11.91 and a high of $35.98 and are now at $11.91. Over the past week, the 200-day moving average (MA) has gone down 1.4% while the 50-day MA has declined 2.3%.

SmarTrend recommended that its subscribers protect gains by selling shares of Boingo Wireless on June 27th, 2019 by issuing a Downtrend alert when the shares were trading at $18.11. Since that call, shares of Boingo Wireless have fallen 33.2%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: 52 week high/lows boingo wireless

Ticker(s): WIFI