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Stock Market & Financial Investment News

News Breaks
January 3, 2013
09:55 EDTMLNXMellanox gaps down after reducing guidance, levels to watch
The stock is down over 18.4% at time of writing after the company cut guidance for Q4 last night after market close. At least three firms cut price targets this morning in response, with new targets ranging from $56 to $75. At the current price of $50.20, next support is at $46.18. There was a bullish gap between the $40s and $50s, so there is little established support below current levels. Resistance is at $51.14, the high of the session.
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