TMCnet News
Upgrade Alert for Riverbed Technology (RVBD)Nov 20, 2012 (SmarTrend(R) Upgrades/Downgrades via COMTEX) -- Riverbed Technology (NASDAQ:RVBD) was upgraded from Market Perform to Outperform at Northland Securities today. The stock closed yesterday at $17.23 on volume of 7.7 million shares, above average daily volume of 5.6 million. Riverbed Technology share prices have moved between a 52-week high of $41.83 and a 52-week low of $13.30 and closed yesterday at 30% above that low price at $17.23 per share. Over the last five market days, the 200-day moving average (MA) has gone down 0.6% while the 50-day MA has declined 0.5%. Riverbed Technology, Inc. manufactures and markets appliances used to connect computers in wide area networks. Potential upside of 40.4% exists for Riverbed Technology, based on a current level of $17.23 and analysts' average consensus price target of $24.19. The stock should find initial resistance at its 200-day moving average (MA) of $21.57 and further resistance at its 50-day MA of $21.80. SmarTrend recommended that its subscribers protect gains by selling shares of Riverbed Technology on October 31st, 2012 by issuing a Downtrend alert when the shares were trading at $18.99. Since that call, shares of Riverbed Technology have fallen 9.2%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time. Write to Chip Brian at [email protected] --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup |