TMCnet News
Stock to Watch: Cumulus Media Down 5.7% (CMLS)May 07, 2013 (SmarTrend(R) Spotlight via COMTEX) -- Cumulus Media (NASDAQ:CMLS) is one of today's worst performing low-priced stocks, down 5.7% to $3.45 on 1.3x average daily volume. Cumulus Media has traded 378,000 shares thus far today, vs. average volume of 284,000 shares per day. The stock has underperformed the Dow (-5.7% to the Dow's 0.3%) and underperformed the S&P 500 (-5.7% to the S&P's 0.3%) during today's trading. Over the past year, Cumulus Media has traded in a range of $2.08 to $3.82 and is now at $3.45, 66% above that low. The 200-day and 50-day moving averages have moved 0.35% higher and 0.43% higher over the past week, respectively. Cumulus Media (NASDAQ:CMLS) has potential upside of 20.8% based on a current price of $3.45 and analysts' consensus price target of $4.17. Cumulus Media shares have support at the 50-day moving average (MA) of $3.27 and additional support at the 200-day MA of $2.84. Cumulus Media Inc., a radio broadcasting company, acquires, operates, and develops radio stations in mid-size radio markets in the United States. The Company also provides sales and marketing services under local marketing agreements to various stations in the United States. SmarTrend recommended that subscribers consider buying shares of Cumulus Media on December 18th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $2.69. Since that recommendation, shares of Cumulus Media have risen 36.1%. We continue to monitor CMLS 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 |