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Brocade Communications Systems Makes a Move: Down 1.9%

Published on Tue, 01/29/2013 - 11:24
By Robert Cotter

Down 1.9% to $5.65, Brocade Communications Systems (NASDAQ:BRCD), is one of today's notable movers. The S&P is currently trading fractionally higher to 1,502 and the Dow Jones Industrial Average is trading 0.2% higher to 13,917.

Brocade Communications Systems (NASDAQ:BRCD) has potential upside of 12.4% based on a current price of $5.65 and analysts' consensus price target of $6.35. The stock should find initial support at its 50-day moving average (MA) of $5.53 and further support at its 200-day MA of $5.37.

Brocade Communications Systems, Inc. provides switching solutions for storage area networks (SAN). The Company's switching solutions utilize the fiber channel interconnect protocol. Brocade's family of SilkWorm switches enables a company to manage growth of its data storage requirements, improve the data transfer performance, and increase the size of its SAN.

In the past 52 weeks, Brocade Communications Systems share prices have been bracketed by a low of $4.18 and a high of $6.44 and are now at $5.65, 35% above that low price. The 200-day and 50-day moving averages have moved 0.07% higher and 0.31% higher over the past week, respectively.

By Robert Cotter
rcotter@fnno.com