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Avid Technology Declining With Trend-Confirming Volume (AVID)

By Nick Russo

Avid Technology's stock is down 24.6% to $4.76 on heavy trading volume. Approximately 1.0 million shares have changed hands today vs. average 30-day volume of 228,000 shares. Unusually high volume can signify a potential turning point or validate a breakout.

SmarTrend recommended that its subscribers protect gains by selling shares of Avid Technology on September 9th, 2016 by issuing a Downtrend alert when the shares were trading at $7.97. Since that call, shares of Avid Technology have fallen 20.7%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Avid Technology share prices have moved between a 52-week high of $18.10 and the current low of $4.91 and are currently at $4.94 per share. Over the last five market days, the 200-day moving average (MA) has gone down 1.9% while the 50-day MA has declined 2.1%.

Keywords: unusual volume avid technology

Ticker(s): AVID