Investors look to Lighten Up on Shares of Exide Technologies, Shares Down 5.8% (XIDE)
Exide Technologies (NASDAQ:XIDE) is one of today's worst performing low-priced stocks, down 5.8% to $3.24 on 1.3x average daily volume. Exide Technologies has traded 570,000 shares thus far today, vs. average volume of 428,000 shares per day. The stock has underperformed the Dow (-5.8% to the Dow's -0.9%) and underperformed the S&P 500 (-5.8% to the S&P's -1.0%) during today's trading.
Exide Technologies (NASDAQ:XIDE) has potential upside of 27.3% based on a current price of $3.24 and analysts' consensus price target of $4.12. Exide Technologies shares have support at the 50-day moving average (MA) of $3.23 and additional support at the 200-day MA of $3.05.
Over the past year, Exide Technologies has traded in a range of $2.25 to $4.15 and is now at $3.24, 44% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 0.5% while the 50-day MA has advanced 2.8%.
Exide Technologies produces and recycles lead-acid batteries. The Company's global transportation and industrial energy groups provide a range of stored electrical energy products and services for industrial and transportation applications.
SmarTrend recommended that subscribers consider buying shares of Exide Technologies on December 12th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $2.94. Since that recommendation, shares of Exide Technologies have risen 17.0%. We continue to monitor XIDE for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: penny stocks exide technologies