Contact Center Industry News

TMCNet:  Harmonic Down 8.2%, Shares Slide into the Red (HLIT)

[January 30, 2013]

Harmonic Down 8.2%, Shares Slide into the Red (HLIT)

Jan 30, 2013 (SmarTrend(R) Spotlight via COMTEX) -- Harmonic (NASDAQ:HLIT) is one of today's worst performing low-priced stocks, down 8.2% to $5.00 on 1.0x average daily volume. Thus far today, Harmonic has traded 524,000 shares, vs. average volume of 523,000 shares per day. The stock has underperformed the Dow (-8.2% to the Dow's -0.1%) and underperformed the S&P 500 (-8.2% to the S&P's -0.2%) during today's trading.

Harmonic share prices have moved between a 52-week high of $10.05 and a 52-week low of $3.76 and are now trading 33% above that low price at $5.00 per share. Over the past week, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 1.7%.

Harmonic Inc. designs, manufactures, and markets digital and fiber optic systems. The Company's systems enable cable, satellite, and wireless operators to deliver video, Internet, telephony, and high-speed data services. Harmonic's TRANsend digital product line combines and customizes content from a variety of sources.

There is potential upside of 0.1% for shares of Harmonic based on a current price of $5.00 and an average consensus analyst price target of $5.00. The stock should find initial support at its 50-day moving average (MA) of $4.90 and further support at its 200-day MA of $4.51.

SmarTrend recommended that subscribers consider buying shares of Harmonic on November 29th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $4.61. Since that recommendation, shares of Harmonic have risen 18.0%. We continue to monitor HLIT for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Write to Chip Brian at --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at:

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