TMCnet News
Downgrade Alert for Level 3 Communications (LVLT)Jan 09, 2013 (SmarTrend(R) Upgrades/Downgrades via COMTEX) -- Level 3 Communications (NYSE:LVLT) was downgraded from Buy to Neutral at DA Davidson today. The stock closed yesterday at $24.42 on volume of 1.5 million shares, above average daily volume of 1.3 million. Level 3 Communications, Inc. provides telecommunications and information services, including local, long distance, and data transmission. The Company also provides other enhanced communications and Internet services, and is involved in coal mining businesses. Over the past year, Level 3 Communications has traded in a range of $16.36 to $27.99 and closed yesterday at $24.45, 49% above that low. The 200-day and 50-day moving averages have moved 0.19% lower and 0.66% higher over the past week, respectively. Level 3 Communications has overhead space with shares priced $24.45, or 10.9% below the average consensus analyst price target of $27.45. Level 3 Communications shares have support at the 200-day moving average (MA) of $21.98 and additional support at the 50-day MA of $20.69. SmarTrend recommended that subscribers consider buying shares of Level 3 Communications on December 12th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $20.81. Since that recommendation, shares of Level 3 Communications have risen 17.5%. We continue to monitor LVLT for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately. 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 |