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Xyratex Set to Rebound after Yesterday's Selloff of 4.43% (XRTX)

Written on Fri, 07/30/2010 - 2:55am
By Chip Brian

Xyratex (NASDAQ:XRTX) traded in a range yesterday that spanned from a low of $12.75 to a high of $13.93. Yesterday, the shares fell 4.43%, which took the trading range below the 3-day low of $13.46 on volume of 752,000 shares.
Shares of Xyratex are currently trading below their 50-day moving average (MA) of $14.47 and below their 200-day MA of $14.49. Look for these MAs to provide resistance for a short-term rebound in the shares.
SmarTrend is bearish on shares of Xyratex and our subscribers were alerted to Sell on May 05, 2010 at $16.36. The stock has fallen 20.8% since the alert was issued.
SmarTrend has the shares in a Downtrend and expects the share price to rebound toward the $13.46 resistance level. Afterwards, we expect it to move downward with its peers in the SmarTrend Data Storage Devices industry.

Keywords: xyratex trading range stock news

Ticker(s): XRTX

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