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Monday, March 26, 2012

Services Stocks Fall Drastically (GLUU) (MDCA) (TEO)

Glu Mobile Inc. (NASDAQ: GLUU): fell by 5.77% or $-0.2799/share to $4.57. In the past year, the shares have traded as low as $1.80 and as high as $6.10. On average, 1813150 shares of GLUU exchange hands on a given day and today's volume is recorded at 4916428. The shares are currently trading above the 50-day moving average which indicates that the shares have been experiencing strong upward momentum as the 50 DMA is above the 200 DMA. The stock may come back down to test the 50-day moving average, so look for a move back to the $4.05 area where the stock will likely see buying pressure.

MDC Partners Inc. (USA) (NASDAQ: MDCA): fell by 5.60% or $-0.7/share to $11.81. In the past year, the shares have traded as low as $11.43 and as high as $20.99. On average, 118930 shares of MDCA exchange hands on a given day and today's volume is recorded at 129197. The shares are currently trading below the 50-day and 200-day moving averages which indicates that the shares have been experiencing downward momentum. The stock may bounce back to test the 200-day moving average. Thus, you may want to pay close attention for a move up to the $13.07 area but be careful because the stock may face selling pressure at this level.

Telecom Argentina S.A (NYSE: TEO): fell by 4.40% or $-0.82/share to $17.81. In the past year, the shares have traded as low as $16.90 and as high as $26.90. On average, 273898 shares of TEO exchange hands on a given day and today's volume is recorded at 717646. The shares are currently trading below the 50-day and 200-day moving averages which indicates that the shares have been experiencing downward momentum. The stock may bounce back to test the 200-day moving average. Thus, you may want to pay close attention for a move up to the $19.19 area but be careful because the stock may face selling pressure at this level.