Hot Stock: GT Advanced Technologies , Shares Drop 48.8% (GTAT)
Written on Mon, 10/13/2014 - 2:22pm
By David Diaz
GT Advanced Technologies (NASDAQ:GTAT) is one of today's worst performing penny stocks, down 48.8% to $0.42 on 1.2x average daily volume. GT Advanced Technologies has traded 44.5 million shares thus far today, vs. average volume of 37.5 million shares per day. The stock has underperformed the Dow (-48.8% to the Dow's -0.0%) and underperformed the S&P 500 (-48.8% to the S&P's -0.1%) during today's trading.
Potential upside of 3,490.4% exists for GT Advanced Technologies , based on a current level of $0.41 and analysts' average consensus price target of $14.90. The stock should find initial resistance at its 50-day moving average (MA) of $13.37 and further resistance at its 200-day MA of $14.36.
GT Advanced Technologies Inc. manufactures solar power equipment. The Company is a global provider of polysilicon production technology, crystalline ingot growth systems and related photovoltaic manufacturing services for the solar industry.
In the past 52 weeks, shares of GT Advanced Technologies have traded between the current low of $0.38 and a high of $20.54 and are now at $0.41. Over the last five market days, the 200-day moving average (MA) has gone down 1.3% while the 50-day MA has declined 9%.
SmarTrend recommended that its subscribers protect gains by selling shares of GT Advanced Technologies on September 10th, 2014 by issuing a Downtrend alert when the shares were trading at $13.21. Since that call, shares of GT Advanced Technologies have fallen 93.9%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.