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DG FastChannel Crosses Below its 10-day MA (DGIT)

Published on Thu, 04/18/2013 - 12:34
By Peter Chu

DG FastChannel (NASDAQ:DGIT) shares have crossed bearishly below their 10-day moving average of $6.48 on a volume of 379K shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

DG Fastchannel, Inc. operates a nationwide network that links advertisers and advertising agencies with radio stations and television stations across the United States and Canada. The Company delivers audio, video, image, and data content in order to facilitate transactions among advertising industry participants.

There is potential upside of 71.2% for shares of DG FastChannel based on a current price of $6.28 and an average consensus analyst price target of $10.75. The stock should run into initial resistance at its 50-day moving average (MA) of $7.48 and subsequent resistance at its 200-day MA of $9.86.

Over the past year, DG FastChannel has traded in a range of $5.78 to $37.48 and is now at $6.28, 9% above that low. Over the past week, the 200-day moving average (MA) has gone down 0.8% while the 50-day MA has declined 2.3%.

By Peter Chu