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Watch for Continued Gains in Shares of Xyratex (XRTX)

Published on Tue, 09/24/2013 - 14:31
By Robert Cotter

Shares of Xyratex (NASDAQ:XRTX) traded at a new 52-week high today of $12.29. Approximately 312,000 shares have changed hands today, as compared to an average 30-day volume of 92,000 shares.

Xyratex has overhead space with shares priced $12.00, or 14.3% below the average consensus analyst price target of $14.00. The stock should find initial support at its 50-day moving average (MA) of $10.63 and further support at its 200-day MA of $10.21.

In the past 52 weeks, shares of Xyratex have traded between a low of $6.96 and a high of $12.29 and are now at $12.00, which is 72% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.2% while the 200-day MA has risen 0.2%.

Xyratex Ltd. provides enterprise class data storage subsystems and network technology. The Company designs and manufactures enabling technology that provides OEM and disk drive manufacturer customers with data storage products that support high-performance storage and data communication networks.

By Robert Cotter
rcotter@fnno.com

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