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TMCNet:  DragonWave Up 9.5%, Shares Break Through Resistance (DRWI)

[February 08, 2013]

DragonWave Up 9.5%, Shares Break Through Resistance (DRWI)

Feb 08, 2013 (SmarTrend(R) Spotlight via COMTEX) -- DragonWave (NASDAQ:DRWI) is one of today's best performing low-priced stocks, up 9.5% to $2.30 on 1.0x average daily volume. Thus far today, DragonWave has traded 353,000 shares, vs. average volume of 336,000 shares per day. The stock has outperformed the Dow (9.5% to the Dow's 0.3%) and outperformed the S&P 500 (9.5% to the S&P's 0.5%) during today's trading.

DragonWave Inc. provides wireless Ethernet equipment for use in IP networks. The Company designs, develops, and markets carrier-grade microwave radio frequency networking equipment that wirelessly transmit broadband voice, video, and other data.

Potential upside of 2.4% exists for DragonWave, based on a current level of $2.30 and analysts' average consensus price target of $2.36. DragonWave shares should first meet resistance at the 50-day moving average (MA) of $2.57 and find additional resistance at the 200-day MA of $2.68.

In the past 52 weeks, shares of DragonWave have traded between a low of $1.75 and a high of $5.46 and are now at $2.30, which is 31% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.9% while the 200-day MA has slid 1.1%.

SmarTrend recommended that its subscribers protect gains by selling shares of DragonWave on January 11th, 2013 by issuing a Downtrend alert when the shares were trading at $2.44. Since that call, shares of DragonWave have fallen 13.8%. 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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