Shares in EMCORE Corp. (NASDAQ: EMKR), a leading provider to the fiber optics and solar power markets of compound semiconductor based components, is hoping to extend its YTD gains this week after two important events occur for the penny stock. EMCORE is announcing earnings for 2012 Q1 for the period ended December 31, 2011 one day before the company’s 1:4 Reverse Stock Split. EMKR is up 43.33% since December 23, 2011.
EMKR closed down -5.15% (-0.07) on Friday at $1.29. EMKR is -60.31% below its 52-week high of $3.25 and 57.32% above its 52-week low of $0.82. EMCORE’s gains YTD have been directly connected to the growth in Germany and China. Why would McDonald’s open a new store every other day? Because China’s growth is insatiable as will be their consumption of electricity in the coming years.
The 1:4 Reverse Stock Split is scheduled to record all shareholders of record as of February 15th. The Simple Moving Average (SMA) on EMCORE Corp. is 1.01 (SMA 50), 1.14 (SMA 20), 1.20 (SMA 5). The Relative Strength Index (RSI) 14 is 57.38 which indicates a “Failure Swing” of an impending reversal.
Subscribers have made more than 30% on EMKR already this year. Join Now to get access to timely trading data to maximize your profits.Share