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Citrix Systems Crosses Below its 10-day MA (CTXS)

Published on Mon, 03/03/2014 - 12:47
By Adrienne Chilton

Citrix Systems (NASDAQ:CTXS) crossed under its 10-day moving average of $59.62 on a volume of 590K shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

Citrix Systems (NASDAQ:CTXS) has potential upside of 9.1% based on a current price of $59.47 and analysts' consensus price target of $64.88. The stock should find resistance at its 200-day moving average (MA) of $63.39, as well as support at its 50-day MA of $59.06.

Citrix Systems, Inc. designs, develops, and markets technology solutions that allow applications to be delivered, supported, and shared on-demand. The Company develops and markets comprehensive solutions across all dimensions of application, server and desktop virtualization as well as application and network optimization.

In the past 52 weeks, shares of Citrix Systems have traded between a low of $51.18 and a high of $77.16 and are now at $59.47, which is 16% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.4% while the 200-day MA has slid 0.2%.

By Adrienne Chilton
achilton@fnno.com

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