TMCNet:  Glu Mobile Up 6.0%, Shares Break Through Resistance (GLUU)

[July 03, 2013]

Glu Mobile Up 6.0%, Shares Break Through Resistance (GLUU)

Jul 03, 2013 (SmarTrend(R) Spotlight via COMTEX) -- Glu Mobile (NASDAQ:GLUU) is one of today's best performing low-priced stocks, up 6.0% to $2.46 on 1.8x average daily volume. Thus far today, Glu Mobile has traded 2.5 million shares, vs. average volume of 1.3 million shares per day. The stock has outperformed the Dow (6.0% to the Dow's -0.1%) and outperformed the S&P 500 (6.0% to the S&P's -0.3%) during today's trading.


Over the past year, Glu Mobile has traded in a range of $1.80 to $6.10 and is now at $2.46, 37% above that low. In the last five trading sessions, the 50-day moving average (MA) has fallen 1.3% while the 200-day MA has slid 1.4%.

Potential upside of 32.3% exists for Glu Mobile, based on a current level of $2.46 and analysts' average consensus price target of $3.25. Glu Mobile shares should first meet resistance at the 50-day moving average (MA) of $2.61 and find additional resistance at the 200-day MA of $2.81.

Glu Mobile Inc. develops and publishes mobile games on a global basis. The Company develops its games and related applications based on third-party licensed brands and other intellectual property, as well as on its own brands and intellectual property.

SmarTrend recommended that its subscribers protect gains by selling shares of Glu Mobile on April 3rd, 2013 by issuing a Downtrend alert when the shares were trading at $2.64. Since that call, shares of Glu Mobile have fallen 12.0%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Write to Chip Brian at cbrian@mysmartrend.com --------------------------------------------------------------------------------------------- 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

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