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Shares of DISH Network Are Moving Higher on 1.3x Above-Average Volume (DISH)

Published on Mon, 03/25/2013 - 13:14
By Peter Chu

DISH Network's stock is up 0.4% to $37.93 on heavy trading volume. Today's volume of 3.6 million shares tops the average 30-day volume of 2.9 million shares. Unusually high volume can signify a potential turning point or validate a breakout.

DISH Network Corp. provides a direct broadcast satellite subscription television service in the United States.

Over the past year, DISH Network has traded in a range of $20.89 to $38.14 and is now at $37.93, 82% above that low. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has risen 0.6%.

DISH Network has overhead space with shares priced $37.93, or 3.4% below the average consensus analyst price target of $39.27. The stock should find initial support at its 50-day moving average (MA) of $36.24 and further support at its 200-day MA of $33.31.

By Peter Chu
pchu@fnno.com