Investors look to Lighten Up on Shares of Cincinnati Bell, Shares Down 14.7% (CBB)
Cincinnati Bell (NYSE:CBB) is one of today's worst performing low-priced stocks, down 14.7% to $3.54 on 3.3x average daily volume. Thus far today, Cincinnati Bell has traded 13.5 million shares, vs. average volume of 4.0 million shares per day. The stock has underperformed the Dow (-14.7% to the Dow's 0.5%) and underperformed the S&P 500 (-14.7% to the S&P's 0.5%) during today's trading.
Cincinnati Bell (NYSE:CBB) has potential upside of 51.8% based on a current price of $3.54 and analysts' consensus price target of $5.38. Cincinnati Bell shares should first meet resistance at the 200-day moving average (MA) of $4.64 and find additional resistance at the 50-day MA of $4.98.
Cincinnati Bell Inc. is a local exchange and wireless provider serving residential and business customers. The Company provides a range of telecommunications products and services to customers in Ohio, Kentucky, and Indiana.
Cincinnati Bell share prices have moved between a 52-week high of $5.89 and a 52-week low of $3.33 and are now trading 6% above that low price at $3.54 per share. The 200-day and 50-day moving averages have moved 0.10% higher and 1.2% lower over the past week, respectively.
SmarTrend recommended that its subscribers protect gains by selling shares of Cincinnati Bell on February 12th, 2013 by issuing a Downtrend alert when the shares were trading at $4.50. Since that call, shares of Cincinnati Bell have fallen 7.7%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Keywords: penny stocks cincinnati bell