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Stock Investors Bid Up Shares of Symantec, Up 1.8%

Published on Tue, 02/05/2013 - 11:30
By Robert Cotter

Symantec (NASDAQ:SYMC) is one of today's biggest movers, up 1.8% to $22.04. The S&P is trading higher by 0.9% to 1,509 and the Dow is trading 0.8% higher to 13,996.

Symantec Corporation provides security, storage and systems management solutions to help businesses and consumers secure and manage their information. The Company offers software and services that protect, manage and control information risks related to security, data protection, storage, compliance and management.

In the past 52 weeks, Symantec share prices have been bracketed by a low of $13.06 and a high of $22.26 and are now at $22.04, 69% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 1.2%.

Potential upside of 9.8% exists for Symantec, based on a current level of $22.04 and analysts' average consensus price target of $24.19. The stock should find initial support at its 50-day moving average (MA) of $19.58 and further support at its 200-day MA of $17.29.

By Robert Cotter
rcotter@fnno.com