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Bearish Moving Average Cross by CommVault Systems (CVLT)

Published on Thu, 02/07/2013 - 12:15
By Robert Cotter

Today, shares of CommVault Systems (NASDAQ:CVLT) have crossed bearishly below their 10-day moving average of $74.89 on a volume of 264K shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

CommVault Systems has overhead space with shares priced $74.12, or 3.6% below the average consensus analyst price target of $76.92. The stock should find initial support at its 50-day moving average (MA) of $70.34 and further support at its 200-day MA of $56.81.

CommVault Systems, Inc. provides data management software applications and related services. The Company develops, markets, and sells a suite of data management software applications designed to protect and manage data throughout its lifecycle.

CommVault Systems share prices have moved between a 52-week high of $79.53 and a 52-week low of $38.51 and are now trading 92% above that low price at $74.12 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.2% while the 200-day MA has risen 0.6%.

By Robert Cotter