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Technical Analysis: Brocade Communications Systems (NASDAQ:BRCD)

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Uploaded by on May 21, 2010

Brocade Communications Systems (NASDAQ:BRCD) downgraded to Neutral from Buy at Goldman Sachs. The stock closed yesterday at $6.17 on volume of 20,616,000 shares, below average daily volume of 21,457,611.
Brocade Communications Systems is currently below its 200-day moving average of $7.34 and should find support at its 50-day moving average of $6.12.
SmarTrend is bearish on shares of BRCD and our subscribers received a Downtrend alert on November 24, 2009 at $7.30, which has returned 15.5% to date.

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