Brocade (BRCD) Downgrade Alert, Watch for 4.4% Technical Downtrend Continuation
Nov 25, 2009 (SmarTrend(R) Spotlight via COMTEX) --
Company: Brocade Communications Systems, Inc. (BRCD)
Brocade (NASDAQ:BRCD) downgraded to Hold at Canaccord Adams. The stock closed yesterday at $7.10 on volume of 117,007,600 shares, above average daily volume of 21,339,606.
Brocade Communications Systems is currently below its 50-day moving average of $8.62 and should find support at its 200-day moving average of $6.67.
SmarTrend is bearish on shares of BRCD and our subscribers received a Downtrend alert on November 24, 2009 at $7.42, which has returned 4.4% to date.
Write to Chip Brian at cbrian@tradethetrend.com
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Company: Brocade Communications Systems, Inc. (BRCD)
Related terms: communications, market, nasdaq, securities
