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Symantec In Retrospect: Shares Up 1.4% Since Downgraded One Week Ago (SYMC)

Published on Wed, 03/27/2013 - 09:10
By Robert Cotter

Symantec was downgraded from Outperform to Perform by Oppenheimer one week ago. The stock closed at $24.57, which is 1.4% higher than the price one week ago ($24.22).

Symantec share prices have moved between a 52-week high of $24.91 and a 52-week low of $13.06 and are now trading 87% above that low price at $24.43 per share. Over the last five market days, the 200-day moving average (MA) has gone up 0.8% while the 50-day MA has advanced 1.3%.

Symantec (NASDAQ:SYMC) defies analysts with a current price ($24.43) 1.1% above its average consensus price target of $24.15. The stock should discover initial support at its 50-day moving average (MA) of $22.89 and subsequent support at its 200-day MA of $18.65.

Symantec Corporation provides security, storage and systems management solutions to help businesses and consumers secure and manage their information. The Company offers software and services that protect, manage and control information risks related to security, data protection, storage, compliance and management.

By Robert Cotter
rcotter@fnno.com

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