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Volume Spike Detected in Shares of Allot Communications as They Move Lower on 1.2x Above-Average Volume (ALLT)

Published on Fri, 03/01/2013 - 14:15
By Adrienne Chilton

Allot Communications shares are trading on heavy volume today, having fallen 4.2% to $13.16. Approximately 794,000 shares have changed hands today vs. average 30-day volume of 661,000 shares. Spikes in volume can validate a breakout or signify a potential turning point.

Potential upside of 56.8% exists for Allot Communications, based on a current level of $13.16 and analysts' average consensus price target of $20.64. The stock should run into initial resistance at its 50-day moving average (MA) of $14.86 and subsequent resistance at its 200-day MA of $22.00.

Allot Communications Ltd. designs and develops broadband service optimization solutions using advanced deep packet inspection (DPI) technology. The Company provides their customers with real-time highly granular visibility into network traffic and enables them to effectively manage and optimize their networks.

Allot Communications share prices have moved between a 52-week high of $29.05 and the current low of $12.64 and are currently at $13.16 per share. In the last five trading sessions, the 50-day moving average (MA) has fallen 2.4% while the 200-day MA has slid 0.8%.

By Adrienne Chilton
achilton@fnno.com

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