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TMCNet:  AXT Down 16.5%, Shares Slide into the Red (AXTI)

[November 02, 2012]

AXT Down 16.5%, Shares Slide into the Red (AXTI)

Nov 02, 2012 (SmarTrend(R) Spotlight via COMTEX) -- AXT (NASDAQ:AXTI) is one of today's worst performing low-priced stocks, down 16.5% to $2.67 on 2.0x average daily volume. Thus far today, AXT has traded 423,000 shares, vs. average volume of 212,000 shares per day. The stock has underperformed the Dow (-16.5% to the Dow's -0.3%) and underperformed the S&P 500 (-16.5% to the S&P's -0.2%) during today's trading.

AXT, Inc. uses a proprietary crystal growth technique to produce semiconductor substrates for a variety of electronic and optoelectronic applications. The Company's products are used in wireless and fiber optic telecommunications, lasers, LEDs, satellite solar cells, and consumer electronics.

There is potential upside of 97.3% for shares of AXT based on a current price of $2.67 and an average consensus analyst price target of $5.26. AXT shares should first meet resistance at the 50-day moving average (MA) of $3.28 and find additional resistance at the 200-day MA of $4.33.

AXT share prices have moved between a 52-week high of $6.84 and the current low of $2.60 and are currently at $2.67 per share. Over the last five market days, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has remained constant.

SmarTrend recommended that its subscribers protect gains by selling shares of AXT on April 26th, 2012 by issuing a Downtrend alert when the shares were trading at $5.21. Since that call, shares of AXT have fallen 38.8%. 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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