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Tellabs (TLAB) Crosses Pivot Point Support at $1.95

Published on Wed, 04/17/2013 - 12:42
By Peter Chu

Shares of Tellabs (NASDAQ:TLAB) opened today below their pivot of $1.97 and have already reached the first level of support at $1.95. Investors may be interested in a cross of the next downside pivot targets of $1.92 and $1.87.

In the past 52 weeks, shares of Tellabs have traded between the current low of $1.95 and a high of $4.10 and are now at $1.95. Over the last five market days, the 200-day moving average (MA) has gone down 0.7% while the 50-day MA has declined 0.6%.

Tellabs (NASDAQ:TLAB) has potential upside of 13.5% based on a current price of $1.95 and analysts' consensus price target of $2.21. The stock should find initial resistance at its 50-day moving average (MA) of $2.09 and further resistance at its 200-day MA of $2.86.

Tellabs, Inc. designs, manufactures, markets, and services voice, data, and video transport and network access systems. The Company's products are used worldwide by public telephone companies, long-distance carriers, alternate service providers, cellular service providers, cable operators, government agencies, utilities, and business end-users.

By Peter Chu