EMCORE Corporation (EMKR)

[chmcnfunds]

Stock to Watch: Emcore Up 7.1% (EMKR)

Apr 23, 2012 (SmarTrend(R) Spotlight via COMTEX) --

Emcore (NASDAQ:EMKR) is one of today's best performing low-priced stocks, up 7.1% to $4.25 on 1.0x average daily volume. Emcore has traded 247,000 shares thus far today, vs. average volume of 239,000 shares per day. The stock has outperformed the Dow (7.1% to the Dow's -1.1%) and outperformed the S&P 500 (7.1% to the S&P's -1.0%) during today's trading.

Emcore (NASDAQ:EMKR) has potential upside of 123.5% based on a current price of $4.25 and analysts' consensus price target of $9.50. The stock should discover initial support at its 50-day moving average (MA) of $4.20 and subsequent support at its 200-day MA of $2.11.

EMCORE Corporation offers a broad portfolio of products for the broadband, fiber optic, satellite and terrestrial solar power markets. The Company's products include optical components and systems for high-speed data and telecommunications networks, cable television, and fiber-to-the-premises applications, and products for both satellite and terrestrial power generation.

In the past 52 weeks, Emcore share prices have been bracketed by a low of $0.82 and a high of $5.99 and are now at $4.25, 418% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 7.2% while the 200-day MA has risen 1.6%.

SmarTrend is tracking the current trend status for Emcore and will alert subscribers who have EMKR in their portfolio or watchlist when shares have changed trend direction.

Write to Chip Brian at [e-mail]
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EMKR