Possible Trend Reversal, Emulex Down on Heavy Volume (ELX)
Emulex shares are trading on heavy volume today, having fallen 8.9% to $6.96. Approximately 1.5 million shares have changed hands today vs. average 30-day volume of 723,000 shares. Unusually high volume can signify a potential turning point or validate a breakout.
SmarTrend is tracking the current trend status for Emulex and will alert subscribers who have ELX in their portfolio or watchlist when shares have changed trend direction.
Over the past year, Emulex has traded in a range of $5.85 to $11.19 and is now at $6.91, 18% above that low. Over the past week, the 200-day moving average (MA) has gone down 0.5% while the 50-day MA has advanced 1.1%.
Keywords: unusual volume emulex