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Shares of DealerTrack Under Pressure, Down 2.0%

Published on Wed, 04/17/2013 - 10:36
By Robert Cotter

One of today's notable stocks in decline is DealerTrack (NASDAQ:TRAK), down 2.0% to $27.28. The Dow is down 1.0% to 14,602 and the S&P is currently down 1.4% to 1,552.

DealerTrack has overhead space with shares priced $27.28, or 20.2% below the average consensus analyst price target of $34.17. DealerTrack shares should first meet resistance at the 200-day moving average (MA) of $28.78 and find additional resistance at the 50-day MA of $30.11.

Over the past year, DealerTrack has traded in a range of $23.31 to $33.62 and is now at $27.28, 17% above that low. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.8%.

DealerTrack Holdings Inc. provides on-demand software and data solutions for the automotive retail industry in the United States. The Company utilizes the Internet to link automotive dealers with banks, finance companies, credit unions and other financing sources, and other service and information providers, such as the major credit reporting agencies.

By Robert Cotter