Media General Inc (MEG), Arista Networks Inc (ANET) and Bank of Ireland (ADR) (IREBY) Are Trading High But Can They Stay There?
New York, NY – GDP INSIDER – 03/23/2015.
This article discusses three companies: Media General Inc (NYSE:MEG), Arista Networks Inc (NYSE:ANET) and Bank of Ireland (ADR) (OTCMKTS:IREBY)
Media General Inc (NYSE:MEG) fell back slightly on Friday to close down 1.31% or $0.22 at $16.58 on higher than average trading of 2.590 million shares, compared to its three month average trading volume of 0.891 million. The broadcast television and digital media company saw significant gains earlier in the week when it announced Richard Levine, an accomplished television distribution executive, as Head of Distribution. The stock has been struggling to get about its resistance level of $17 for the last three months, but with new blood in management it could start to break through that barrier.
Arista Networks Inc (NYSE:ANET) closed down 1.84% or $1.35 at $71.90 on Friday on very active trading of 2.589 million shares, compared to its three month average trading volume of 0.677 million shares. The supplier of cloud network solutions has been on a roll since the beginning of February when the stock was trading at a low of $56.11 and has been gaining steadily ever since. With many analysts revising their earnings estimates upwards, the stock is now trading with an RSI of 60.15 and may be overvalued slightly at this time, making it a hold rather than a buy.
Bank of Ireland (ADR) (OTCMKTS:IREBY) continued to gain on Friday with the stock gaining an additional 5.43% or $0.83 to close at $16.11, with more than 0.523 million shares changing hands. The corporate and retail banking services provider had been underperforming the S&P 500 for much of this year so far, but the recent gains have pushed the share price up 5.84% YTD compared to the S&P 500, which has only gained 2.39% over the same period. The stock may be near the top of its range for now making it a hold.
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