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Shares of Internap Network Services Are Moving Higher on 1.2x Above-Average Volume (INAP)

Published on Fri, 02/01/2013 - 14:18
By Adrienne Chilton

The price of Internap Network Services shares has climbed to $8.01 (a 1.3% change) on heavy trading volume. Approximately 275,000 shares have changed hands today vs. average 30-day volume of 223,000 shares. Spikes in volume can validate a breakout or signify a potential turning point.

In the past 52 weeks, shares of Internap Network Services have traded between a low of $4.35 and a high of $8.25 and are now at $8.01, which is 84% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 2.1%.

Internap Network Services (NASDAQ:INAP) has potential upside of 4.6% based on a current price of $8.01 and analysts' consensus price target of $8.38. The stock should discover initial support at its 200-day moving average (MA) of $6.88 and subsequent support at its 50-day MA of $6.62.

Internap Network Services Corporation provides a broad range of scalable information technology infrastructure services for enterprises including colocation, managed hosting, optimized IP connectivity and content delivery services.

By Adrienne Chilton
achilton@fnno.com