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Stock Investors Sell Off Shares of NII Holdings, Down 4.0%

Published on Wed, 01/02/2013 - 13:25
By Robert Cotter

NII Holdings (NASDAQ:NIHD) is one of today's biggest movers, down 4.0% to $6.84. The S&P is currently trading 1.7% higher to 1,450 and the Dow Jones Industrial Average is trading 1.7% higher to 13,323.

NII Holdings has overhead space with shares priced $6.84, or 29.1% below the average consensus analyst price target of $9.66. The stock should find resistance at its 200-day moving average (MA) of $9.70, as well as support at its 50-day MA of $6.26.

Over the past year, NII Holdings has traded in a range of $4.75 to $24.32 and is now at $6.84, 44% above that low. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.9% while the 200-day MA has slid 1.9%.

NII Holdings Inc., provides mobile communications for business customers in Latin America. The Company has operations in Argentina, Brazil, Chile, Mexico, and Peru, offering a fully integrated wireless communications tool with digital cellular service, text/numeric paging, wireless internet access, and Nextel DirectConnect, a digital two-way radio feature.

By Robert Cotter