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Buyers Accumulate Shares of Finisar, Up 4.2%

Published on Mon, 02/04/2013 - 11:17
By Robert Cotter

One of today's notable stocks on the rise is Finisar (NASDAQ:FNSR), up 4.2% to $16.48. The Dow Jones Industrial Average is now trading 0.8% lower to 13,900 and the S&P is trading 0.7% lower to 1,503.

Finisar share prices have moved between a 52-week high of $23.50 and a 52-week low of $10.95 and are now trading 51% above that low price at $16.48 per share. Over the last five market days, the 200-day moving average (MA) has gone down 0.5% while the 50-day MA has advanced 2.3%.

Finisar Corporation provides fiber optic subsystems and network performance test systems which enable high-speed data communications over local area network and storage area networks. The Company's line of optical subsystems supports a variety of network applications, transmission speeds, distances, and mediums. Finisar also provides network performance test systems.

There is potential upside of 6.0% for shares of Finisar based on a current price of $16.48 and an average consensus analyst price target of $17.47. The stock should discover initial support at its 50-day moving average (MA) of $14.70 and subsequent support at its 200-day MA of $14.14.

By Robert Cotter
rcotter@fnno.com