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Shares of Premiere Global Services Under Pressure, Down 1.4%

Published on Wed, 02/06/2013 - 13:22
By Robert Cotter

Premiere Global Services (NYSE:PGI) is one of today's notable stocks in decline, down 1.4% to $9.29. The Dow Jones Industrial Average is now trading fractionally higher to 13,986 and the S&P is trading fractionally higher to 1,512.

In the past 52 weeks, shares of Premiere Global Services have traded between a low of $7.83 and a high of $10.18 and are now at $9.29, which is 19% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 0.8%.

Premiere Global Services, Inc. provides outsourced business process solutions. The Company offers communication technologies-based solutions within conferencing, desktop fax, document delivery, accounts receivable management, notifications & reminders, and emarketing that enable customers to automate and simplify their daily business processes.

Potential upside of 18.4% exists for Premiere Global Services, based on a current level of $9.29 and analysts' average consensus price target of $11.00. The stock should find initial support at its 50-day moving average (MA) of $9.15 and further support at its 200-day MA of $9.00.

By Robert Cotter
rcotter@fnno.com