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Stock Investors Sell Off Shares of Aruba Networks, Down 2.4%

Published on Thu, 04/18/2013 - 12:45
By Robert Cotter

Aruba Networks (NASDAQ:ARUN), a company whose shares are moving quickly, is trading 2.4% lower to $21.62. The Dow Jones Industrial Average is now trading fractionally lower to 14,590 and the S&P is trading 0.2% lower to 1,548.

Aruba Networks Inc. provides enterprise mobility solutions that enables secure access to data, voice and video applications across wireless and wireline enterprise networks.

Over the past year, Aruba Networks has traded in a range of $12.36 to $26.78 and is now at $21.62, 75% above that low. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.2% while the 200-day MA has risen 0.6%.

Aruba Networks has overhead space with shares priced $21.62, or 17.3% below the average consensus analyst price target of $26.14. The stock should find resistance at its 50-day moving average (MA) of $23.99, as well as support at its 200-day MA of $20.23.

By Robert Cotter
rcotter@fnno.com