Shares of Internap Network Services Are Moving Lower on 1.5x Above-Average Volume (INAP)

Published on Fri, 04/26/2013 - 13:16
By Adrienne Chilton in Unusual volume, INAP, internap network services, nasdaq:inap, unusual volume

Internap Network Services shares are trading on heavy volume today, having fallen 6.9% to $7.82. Today's volume of 349,000 shares tops the average 30-day volume of 239,000 shares. Spikes in volume can validate a breakout or signify a potential turning point.

Potential upside of 25.7% exists for Internap Network Services, based on a current level of $7.82 and analysts' average consensus price target of $9.83. The stock should hit resistance at its 50-day moving average (MA) of $8.63, as well as support at its 200-day MA of $7.32.

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.

Over the past year, Internap Network Services has traded in a range of $4.35 to $9.60 and is now at $7.82, 80% above that low. Over the past week, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 0.3%.

By Adrienne Chilton
achilton@fnno.com

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