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After Yesterday's Decline of 1.00%, Brocade Communications Systems Offers Investors Better Value (BRCD)

Written on Fri, 07/30/2010 - 1:14am
By Chip Brian

Brocade Communications Systems (NASDAQ:BRCD) traded in a range yesterday that spanned from a low of $4.95 to a high of $5.05. Yesterday, the shares fell 1.00%, which took the trading range below the 3-day low of $4.97 on volume of 14.3 million shares.
Shares of Brocade Communications Systems are currently trading below their 50-day moving average (MA) of $5.29 and below their 200-day MA of $6.67. Look for these MAs to provide resistance for a short-term rebound in the shares.
SmarTrend is bearish on shares of Brocade Communications Systems and our subscribers were alerted to Sell on November 24, 2009 at $7.30. The stock has fallen 32.1% since the alert was issued.
SmarTrend has the shares in a Downtrend and expects the share price to rebound toward the $4.97 resistance level. Afterwards, we expect it to move downward with its peers in the SmarTrend Data Storage Devices industry.

Keywords: brocade communications systems trading range stock news

Ticker(s): BRCD

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