Glu Mobile Down 5.3%, Shares Slide into the Red (GLUU)

Jan 29, 2013 (SmarTrend(R) Spotlight via COMTEX) -- Glu Mobile (NASDAQ:GLUU) is one of today's worst performing low-priced stocks, down 5.3% to $2.51 on 1.5x average daily volume. Glu Mobile has traded 1.6 million shares thus far today, vs. average volume of 1.1 million shares per day. The stock has underperformed the Dow (-5.3% to the Dow's 0.4%) and underperformed the S&P 500 (-5.3% to the S&P's 0.4%) during today's trading.

Glu Mobile Inc. develops and publishes mobile games on a global basis. The Company develops its games and related applications based on third-party licensed brands and other intellectual property, as well as on its own brands and intellectual property.

Glu Mobile (NASDAQ:GLUU) has potential upside of 54.1% based on a current price of $2.51 and analysts' consensus price target of $3.87. The stock should hit resistance at its 200-day moving average (MA) of $3.99, as well as support at its 50-day MA of $2.44.

In the past 52 weeks, shares of Glu Mobile have traded between a low of $1.80 and a high of $6.10 and are now at $2.51, which is 39% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.4% while the 200-day MA has slid 0.8%.

SmarTrend is tracking the current trend status for Glu Mobile and will alert subscribers who have GLUU in their portfolio or watchlist when shares have changed trend direction.

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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