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Stock to Watch: Exide Technologies Up 5.6% (XIDE)

Published on Fri, 02/08/2013 - 13:23
By Peter Chu

Exide Technologies (NASDAQ:XIDE) is one of today's best performing low-priced stocks, up 5.6% to $3.00 on 1.3x average daily volume. Thus far today, Exide Technologies has traded 601,000 shares, vs. average volume of 457,000 shares per day. The stock has outperformed the Dow (5.6% to the Dow's 0.3%) and outperformed the S&P 500 (5.6% to the S&P's 0.5%) during today's trading.

Exide Technologies produces and recycles lead-acid batteries. The Company's global transportation and industrial energy groups provide a range of stored electrical energy products and services for industrial and transportation applications.

In the past 52 weeks, Exide Technologies share prices have been bracketed by a low of $2.25 and a high of $4.15 and are now at $3.00, 33% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 1.3%.

Exide Technologies has overhead space with shares priced $3.00, or 33.4% below the average consensus analyst price target of $4.50. Exide Technologies shares should first meet resistance at the 200-day moving average (MA) of $3.06 and find additional resistance at the 50-day MA of $3.27.

By Peter Chu