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Exide Technologies Up 8.6%, Penny Stock Attracts Attention (XIDE)

Published on Mon, 05/13/2013 - 12:26
By Robert Cotter

Exide Technologies (NASDAQ:XIDE) is one of today's best performing penny stocks, up 8.6% to $0.95 on 1.1x average daily volume. Exide Technologies has traded 3.7 million shares thus far today, vs. average volume of 3.4 million shares per day. The stock has outperformed the Dow (8.6% to the Dow's -0.2%) and outperformed the S&P 500 (8.6% to the S&P's 0.1%) during today's trading.

Exide Technologies (NASDAQ:XIDE) has potential upside of 373.7% based on a current price of $0.95 and analysts' consensus price target of $4.50. Exide Technologies shares should first meet resistance at the 50-day moving average (MA) of $1.88 and find additional resistance at the 200-day MA of $2.79.

Exide Technologies share prices have moved between a 52-week high of $3.77 and a 52-week low of $0.64 and are now trading 48% above that low price at $0.95 per share. In the last five trading sessions, the 50-day moving average (MA) has fallen 9.2% while the 200-day MA has slid 2.2%.

Exide Technologies produces and recycles lead-acid batteries. The Company's global transportation and industrial energy groups provide a range of stored electrical energy products and services for industrial and transportation applications.

By Robert Cotter