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Net 1 UEPS Technologies Shares Sinking Lower, Down 3.4%

Published on Mon, 04/22/2013 - 10:20
By Peter Chu

Net 1 UEPS Technologies (NASDAQ:UEPS) is one of today's biggest movers, down 3.4% to $6.75. The S&P is currently trading fractionally lower to 1,553 and the Dow Jones Industrial Average is trading 0.4% lower to 14,487.

Net 1 UEPS Technologies, Inc. holds a non-exclusive worldwide license to the Universal Electronic Payment System (UEPS). The Company commercializes the smart card based service through alliances with banks, card services, and retail organizations.

In the past 52 weeks, Net 1 UEPS Technologies share prices have been bracketed by a low of $3.01 and a high of $12.62 and are now at $6.75, 124% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.5% while the 50-day MA has advanced 1.8%.

Net 1 UEPS Technologies has overhead space with shares priced $6.75, or 3.6% below the average consensus analyst price target of $7.00. The stock should find resistance at its 200-day moving average (MA) of $7.32, as well as support at its 50-day MA of $6.31.

By Peter Chu
pchu@fnno.com