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Stock Investors Sell Off Shares of Immersion, Down 7.0%

Published on Fri, 03/01/2013 - 13:34
By Robert Cotter

Immersion (NASDAQ:IMMR) is one of today's biggest movers, down 7.0% to $6.22. The Dow Jones Industrial Average is now trading 0.3% higher to 14,090 and the S&P is trading 0.2% higher to 1,518.

In the past 52 weeks, shares of Immersion have traded between a low of $4.15 and a high of $10.66 and are now at $6.22, which is 50% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.4% while the 50-day MA has advanced 0.4%.

Immersion has overhead space with shares priced $6.22, or 30.9% below the average consensus analyst price target of $9.00. The stock should find resistance at its 50-day moving average (MA) of $6.80, as well as support at its 200-day MA of $5.86.

Immersion Corporation develops and licenses hardware and software technologies that enable users to interact with computers using their sense of touch. The Company's patented TouchSense technologies enable computer peripheral devices to deliver tactile sensations that correspond to on-screen events.

By Robert Cotter
rcotter@fnno.com

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