Downgrade Alert for Brocade Communications Systems (BRCD)
Brocade Communications Systems (NASDAQ:BRCD) was downgraded from Buy to Hold at Wunderlich today. The stock closed yesterday at $8.25 on volume of 10.6 million shares, above average daily volume of 6.2 million.
In the past 52 weeks, Brocade Communications Systems share prices have been bracketed by a low of $7.40 and a high of $12.88 and closed yesterday at $8.25, 11% above that low price. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has slid 0.2%.
Potential upside of 29.3% exists for Brocade Communications Systems, based on a current level of $8.25 and analysts' average consensus price target of $10.67. The stock should run into initial resistance at its 200-day moving average (MA) of $9.71 and subsequent resistance at its 50-day MA of $9.95.
Brocade Communications Systems, Inc. provides switching solutions for storage area networks (SAN). The Company's switching solutions utilize the fiber channel interconnect protocol. Brocade's family of SilkWorm switches enables a company to manage growth of its data storage requirements, improve the data transfer performance, and increase the size of its SAN.
SmarTrend is monitoring the recent change of momentum in Brocade Communications Systems. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Brocade Communications Systems in search of a potential trend change.
Keywords: analyst upgrades/downgrades brocade communications systems