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Progress Software Shares Climbing Higher, Up 2.2%

Published on Tue, 04/23/2013 - 10:34
By Mallory Stone

One of today's notable stocks on the rise is Progress Software (NASDAQ:PRGS), up 2.2% to $21.33. The Dow is up 0.9% to 14,700 and the S&P is currently up 0.9% to 1,576.

Progress Software (NASDAQ:PRGS) has potential upside of 21.1% based on a current price of $21.33 and analysts' consensus price target of $25.83. The stock should hit resistance at its 50-day moving average (MA) of $22.69, as well as support at its 200-day MA of $21.02.

In the past 52 weeks, shares of Progress Software have traded between a low of $17.30 and a high of $24.50 and are now at $21.33, which is 23% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.6% while the 200-day MA has remained constant.

Progress Software Corporation develops, markets, and distributes application development, deployment, and integration software to business, industry, and government worldwide. The Company's products include databases, application servers, messaging servers, and development tools for Internet/Web, extranet, and intranet applications as well as for client/server and host applications.

By Mallory Stone
mstone@fnno.com

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