Volume Spike Detected in Shares of j2 Global Communications as They Move ...
23.05.12
The price of j2 Global Communications shares has climbed to $27.13 (a 0.7% change) on heavy trading volume. About 638,000 shares have been traded today, as compared to the 30-day average volume of 344,000 shares. Unusually high volume can signify a potential turning point or validate a breakout.
j2 Global Communications, Inc. provides Internet-based messaging and communications services to individuals and businesses throughout the world. The Company's global network covers cities in various countries and spans North America, Europe, and the Asia/Pacific region. j2 enables customers to manage their communications through the Web, phone, or wireless device.
In the past 52 weeks, j2 Global Communications share prices have been bracketed by a low of $25.15 and a high of $32.67 and are now at $27.13, 8% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.4% while the 200-day MA has remained constant.
Potential upside of 24.4% exists for j2 Global Communications, based on a current level of $27.13 and analysts' average consensus price target of $33.75. The stock should find initial resistance at its 50-day moving average (MA) of $27.56 and further resistance at its 200-day MA of $28.61.
Source: Financial News Network Online