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Investors look to Lighten Up on Shares of Frontier Communications, Shares Down 6.7% (FTR)
Feb 14, 2013 (SmarTrend(R) Spotlight via COMTEX) --
Frontier Communications (NYSE:FTR) is one of today's worst performing low-priced stocks, down 6.7% to $4.20 on 2.7x average daily volume. Thus far today, Frontier Communications has traded 24.2 million shares, vs. average volume of 8.9 million shares per day. The stock has underperformed the Dow (-6.7% to the Dow's 0.0%) and underperformed the S&P 500 (-6.7% to the S&P's 0.0%) during today's trading.
Frontier Communications Corporation provides communications services to rural areas and small and medium-sized towns and cities. The Company offers a variety of voice, data, and Internet, and television services.
Frontier Communications has overhead space with shares priced $4.20, or 17.0% below the average consensus analyst price target of $5.06. The stock should run into initial resistance at its 200-day moving average (MA) of $4.30 and subsequent resistance at its 50-day MA of $4.50.
Over the past year, Frontier Communications has traded in a range of $3.06 to $5.15 and is now at $4.20, 37% above that low. Over the past week, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has declined 0.2%.
SmarTrend is tracking the current trend status for Frontier Communications and will alert subscribers who have FTR in their portfolio or watchlist when shares have changed trend direction.
Write to Chip Brian at cbrian@mysmartrend.com
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