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Westport Innovations Trading Lower on 1.3x Above-Average Volume (WPRT)

Published on Mon, 05/13/2013 - 13:13
By Robert Cotter

Westport Innovations's stock is down 2.5% to $28.80 on heavy trading volume. Approximately 853,000 shares have changed hands today vs. average 30-day volume of 670,000 shares. Spikes in volume can validate a breakout or signify a potential turning point.

There is potential upside of 23.8% for shares of Westport Innovations based on a current price of $28.80 and an average consensus analyst price target of $35.66. The stock should find initial resistance at its 50-day moving average (MA) of $29.18 and further resistance at its 200-day MA of $29.78.

Over the past year, Westport Innovations has traded in a range of $16.19 to $50.19 and is now at $28.80, 78% above that low. The 200-day and 50-day moving averages have moved 0.64% lower and 0.05% lower over the past week, respectively.

Westport Innovations Inc. is commercializing high pressure direct injection (HPDI) combustion technology. This technology allows diesel engines to operate on cleaner-burning gaseous fuels without sacrificing performance or fuel economy. The Company currently has an alliance with Cummins Engine Company Inc. and a development project with Ford Motor Company.

By Robert Cotter
rcotter@fnno.com

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