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Mid-Day Trend Analysis Reports for November 2nd, 2012: Quantum Corp. (NYSE: QTM), Enzo Biochem Inc. (NYSE: ENZ), Alcatel Lucent SA (ADR) (NYSE: ALU), Accuride Corporation (NYSE: ACW)

 
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New York, NY -- (SBWIRE) -- 11/02/2012 -- Quantum Corp. (NYSE:QTM) is amongst the biggest gainers on NYSE today. The stock is currently up 22.03% to $1.44 on volume of 7.11 million, which is almost three and a half times the daily average volume of 2.82 million.

QTM had fallen sharply last week, however, the stock has bottomed out and is rebounding. The stock is still trading below its 50-day and 200-day moving averages. If the stock breaks through its 50-day moving average then a bullish trend will be established. The stock’s MACD chart indicates that the upward momentum is likely to continue in the next few trading sessions. If QTM breaks through $1.50, then there is significant upside potential.

Find out if QTM could keep its bullish momentum by reading the free trend analysis report here: http://www.wallstreetreport.net/market-scan/?symbol=QTM

Enzo Biochem Inc. (NYSE:ENZ) is also up sharply in mid-day trading today. At last check, ENZ was trading 13.48% higher at $2.61 on volume of 1.85 million, which is more than 10 times the daily average volume of 107,309. ENZ has gained nearly 30% in the last three trading sessions.

ENZ’s gain on significantly higher volume indicates that the market sentiment is bullish on the stock. The stock has crossed its 50-day and 200-day moving averages, which is a strong bullish signal. ENZ could see significant upward momentum if it breaks through $3.12, which is also the stock’s 52-week high.

Get all the info traders need to trade ENZ by reading the free trend analysis report here: http://www.wallstreetreport.net/market-scan/?symbol=ENZ

Another major mover on the NYSE today is Alcatel Lucent SA (ADR) (NYSE:ALU). ALU is sinking today after the company reported its quarterly results. At last check, ALU was down 10.81% to $0.990 on volume of 11.55 million. ALU is now close to its 52-week low of $0.91.

ALU’s MACD chart indicates that the downward momentum is likely to continue. The stock’s MACD is below zero-line and has crossed the signal line on the downside, which are strong bearish signals. The MACD histogram is also showing increasing downward. ALU could bottom out at around its 52-week low of $0.91, which has been a strong support level.

Find out where ALU could be heading next by reading the free trend analysis report here; http://www.wallstreetreport.net/market-scan/?symbol=ALU

Accuride Corporation (NYSE:ACW) is down sharply in trading currently. At last check, ACW was trading 7.46% lower at $2.48 on volume of 2.05 million, which is almost 4 times the daily average volume. The stock hit a 52-week low of $2.43 today.

The technical indicators for ACW suggest that the recent bearish trend maybe coming to an end. The stock could face resistance at around $2.50. If it breaks through this level then there is significant upside potential.

Find out more about ACW by reading the free trend analysis report here: http://www.wallstreetreport.net/market-scan/?symbol=ACW

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