Unusual Price Movement Detected In Shares Of (NYSE: ELX)

NYSE (NYSE: ELX): traded higher by 16.22% or $1.08/share to $7.74. In the past year, the shares have traded as low as $5.72 and as high as $7.98. On average, 713245 shares of ELX exchange hands on a given day and today's volume is recorded at 1627273. The shares are currently trading above the 200-day moving average which indicates that the shares have been subject to upward momentum. The 200 DMA is above the 50 DMA which indicates that the stock has likely taken a dip in the shorter term. The stock may eventually drop to test the 200-day moving average where buyers may be lurking near the $6.6318 area.