Morning Research on NetApp, Fusion-io, Brocade Comm. Systems, and Quantum
LONDON, March 6, 2013 /PRNewswire/ --
The markets continued their bullish streak and ended the day with new all time highs. The technology sector also joined in as shares soared and benchmark NASDAQ closed at 3,224.13, up 1.32 percent. The Dow Jones ended its latest session at 14,253.77, up 0.89 percent. Similarly, S&P also closed on a bullish note at 1,539.79, up 0.96 percent. Our research team took a look at Technology sector, studying the data storage industry which includes major companies like NetApp Inc. (NASDAQ: NTAP), Fusion-IO Inc. (NYSE: FIO), Brocade Communications Systems Inc. (NASDAQ: BRCD) and Quantum Corp. (NYSE: QTM). StockCall has posted free technical research reports on NTAP, FIO, BRCD, and QTM and these can be accessed by signing up at
http://www.stockcall.com/analysis
NetApp Inc. shares were up for its latest trading session on Tuesday, ending the day 1.64 percent higher at $34.14. The stock fell to an intra-day low of $33.73, while its intra-day high stood at $34.55. Its trading volume for the day stood at 4.10 million, down from its average volume of 5.89 million. Despite the upward movement, NetApp's shares have gained 1.76 percent this year, compared to a gain of 7.97 percent for the S&P 500. The shares have strong support at around $33.50, as the stock shows a bullish trend. The stock is trading below than its 20-day and 50-day moving averages. Download the free report on NTAP upon registration at
http://www.StockCall.com/NTAP030613.pdf
With a mild decline in its previous trading session, Fusion-IO Inc. is still down 28.3 percent for the year. It has declined 49.02 percent in the past 52 weeks. The stock closed 0.06 percent lower at $16.44 on volume of 2.06 million shares yesterday. Its average trading volume stands at 3.68 million shares. The tech company's shares currently face resistance at around $16.83. The stock has support at around $15.56. Upon breaching this level, the stock may tumble down to $13.98. It is currently trading below its 20-day and 50-day moving averages, which is a bearish signal. FIO technical report can be accessed for free by signing up at
http://www.StockCall.com/FIO030613.pdf
Shares of Brocade Communications Systems Inc. edged higher in Tuesday's trading session, tracking movement in the broad market. The stock closed 1.76 percent higher at $5.78 on below average volume of 4.72 million. Brocade's shares have gained more than 8 percent this year, in-line with the broad market. It has support at $5.71. With the upward movement, the shares are still trading above their 50-day and 200-day moving averages. The stock's MACD is also trading above the signal line and the zero-line. Both of these are bullish signals. The free report on BRCD can be downloaded by signing up now at
http://www.StockCall.com/BRCD030613.pdf
Quantum Corp. is currently in a neutral mode as the stock ended yesterday's trading session at $1.25. The stock traded in the range of $1.24 and $1.28 during the session. Its first support level is at $1.20 and upon breaching this level, the stock may go down to $1.15 level. On the upside, Quantum's stock may touch $1.33 level. The stock has traded in the range of $1.00 and $2.71 in the past 52 weeks and it declined by 49.8 percent during the same time period. On a Year-to-Date basis, the stock is up 0.81 percent. Free report on QTM can be accessed by registering at
http://www.StockCall.com/QTM030613.pdf
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