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Traders Get Bullish on Shares of Novatel Wireless, Shares Up 8.0% (NVTL)

TMCNet:  Traders Get Bullish on Shares of Novatel Wireless, Shares Up 8.0% (NVTL)

[December 06, 2012]

Traders Get Bullish on Shares of Novatel Wireless, Shares Up 8.0% (NVTL)

Dec 06, 2012 (SmarTrend(R) Spotlight via COMTEX) -- Novatel Wireless (NASDAQ:NVTL) is one of today's best performing low-priced stocks, up 8.0% to $1.35 on 1.1x average daily volume. Thus far today, Novatel Wireless has traded 433,000 shares, vs. average volume of 403,000 shares per day. The stock has outperformed the Dow (8.0% to the Dow's 0.1%) and outperformed the S&P 500 (8.0% to the S&P's 0.2%) during today's trading.

Novatel Wireless (NASDAQ:NVTL) has potential upside of 19.1% based on a current price of $1.35 and analysts' consensus price target of $1.61. The stock should find initial resistance at its 50-day moving average (MA) of $1.68 and further resistance at its 200-day MA of $2.39.

Novatel Wireless, Inc. provides wireless data communications access solutions. The Company provides wireless data modems and software for use with handheld computing devices and portable personal electronics. Novatel also offers provisioning, activation, and systems integration services to its customers to facilitate use of its products.

In the past 52 weeks, Novatel Wireless share prices have been bracketed by a low of $1.17 and a high of $3.69 and are now at $1.35, 15% above that low price. The 200-day and 50-day moving averages have moved 1.27% lower and 2.41% lower over the past week, respectively.

SmarTrend recommended that its subscribers protect gains by selling shares of Novatel Wireless on September 5th, 2012 by issuing a Downtrend alert when the shares were trading at $1.98. Since that call, shares of Novatel Wireless have fallen 36.7%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Write to Chip Brian at cbrian@mysmartrend.com --------------------------------------------------------------------------------------------- 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 http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup

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