Tata Communications Limited (ADR) (NYSE: TCL), a provider of wholesale international voice services and an operator of a submarine cable network in the world, is down sharply in mid-day trading today even as the company announced that it joined Arbor Neworks’ Cloud Signaling(SM) Coalition.
TCL is currently trading 3.20% lower at $8.46. TCL had finished higher in each of the five previous trading sessions. However, the stock has slipped after reaching $8.75 resistance level. The stock has support at around $8.40. If it falls below $8.40, then the next support level is at $8.20.
MEMC Electronic Materials Inc. (NYSE: WFR), a company engaged in the development, manufacture and ale of silicon wafers, is up sharply in trading today, extending its gains from the previous trading sessions. WFR is currently trading 2.23% higher at $3.21 on volume of 3.14 million. The stock has gained more than 8% in the last three trading sessions.
WFR has been on an upward trajectory since last month after the stock bottomed out at $2.20. The stock is now approaching $3.30 resistance level. The stock could see a pullback from this level.
Last week, WFR’s subsidiary SunEdison applauded the California Department of Corrections and Rehabilitation for its Going Green sustainability initiative.
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