looks to have formed. Upper-Mid 14's tested several times as well. Can't always trust the charts, but investors trade from them many times forcing the theory into reality. Therefore, there is a good chance we will bump up into a higher trading range.
Investor's Business Daily
Computer networking stock Ixia (XXIA) rose 2% in heavy volume as it climbs the right side of a cup base with a 17.50 buy point. The correction in the pattern is 25%, which is about normal.
The pattern is first stage, which has a better chance of success than later-stage bases. However, the base shows more distribution than accumulation so far.
The stock has risen for 15 of the past 16 days, climbing above its 50-day line and pulling within 7% of the buy point.
Shares of Ixia Receive a Boost, Up 1.6%
Dec 03, 2012 (Market movers via COMTEX) -- Ixia (NASDAQ:XXIA), a company whose shares are moving quickly, is trading 1.6% higher to $15.27. The S&P is trading 1,416 and the Dow is trading 13,026.
Ixia provides high speed, multi-port network performance analysis systems. The Company's systems generate and analyze data traffic, including voice over Internet protocol traffic.
There is potential upside of 16.0% for shares of Ixia based on a current price of $15.27 and an average consensus analyst price target of $17.70. The stock should hit resistance at its 50-day moving average (MA) of $15.27, as well as support at its 200-day MA of $13.53.
Over the past year, Ixia has traded in a range of $9.75 to $17.40 and is now at $15.27, 57% above that low. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.2%.