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Stock Investors Bid Up Shares of Polycom, Up 2.2%

Published on Thu, 06/13/2013 - 12:56
By Mallory Stone

Polycom (NASDAQ:PLCM) is one of today's notable stocks on the rise, up 2.2% to $11.28. The Dow is up 0.5% to 15,066 and the S&P is currently up 0.6% to 1,622.

Polycom, Inc. develops, manufactures, and markets a line of video, voice, data and web conferencing collaboration solutions. The solutions include enterprise video and voice communications end-points, network infrastructure, management products, product maintenance and other professional services.

Polycom has overhead space with shares priced $11.28, or 4.0% below the average consensus analyst price target of $11.75. The stock should discover initial support at its 50-day moving average (MA) of $10.91 and subsequent support at its 200-day MA of $10.55.

In the past 52 weeks, Polycom share prices have been bracketed by a low of $7.45 and a high of $12.03 and are now at $11.28, 51% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has remained constant.

By Mallory Stone