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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 --------------------------------------------------------------------------------------------- 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 Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at:

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