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Upgrade Alert for Diebold (DBD)

By David Diaz

Diebold (NYSE:DBD) was upgraded from Neutral to Overweight at JP Morgan today. The stock closed yesterday at $25.60 on volume of 2.3 million shares, above average daily volume of 652,000.

Diebold, Incorporated provides integrated self-service delivery systems and services on a worldwide basis. The Company serves the financial, security, election systems, retail, card systems, and pharmacy industries. Diebold provides products such as automated teller machines, alarm monitoring systems, monitoring software, card-based systems, and election systems.

Diebold has overhead space with shares priced $25.60, or 36.3% below the average consensus analyst price target of $40.17. The stock should run into initial resistance at its 50-day moving average (MA) of $26.72 and subsequent resistance at its 200-day MA of $30.23.

In the past 52 weeks, shares of Diebold have traded between a low of $22.84 and a high of $38.94 and closed yesterday at $25.60, which is 12% above that low price. The 200-day and 50-day moving averages have moved 0.6% lower and 0.23% higher over the past week, respectively.

SmarTrend recommended that its subscribers protect gains by selling shares of Diebold on September 9th, 2016 by issuing a Downtrend alert when the shares were trading at $26.30. Since that call, shares of Diebold have fallen 6.9%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: analyst upgrades/downgrades diebold

Ticker(s): DBD