DragonWave (NASDAQ:DRWI) was downgraded from Buy to Hold at Jefferies today. The stock closed yesterday at $3.43 on volume of 362,000 shares, above average daily volume of 135,000.DragonWave (NASDAQ:DRWI) has potential upside of 39.3% based on a current price of $3.43 and analysts' consensus price target of $4.78. DragonWave shares should first meet resistance at the 50-day moving average (MA) of $3.98 and find additional resistance at the 200-day MA of $4.03.DragonWave Inc. provides wireless Ethernet equipment for use in IP networks. The Company designs, develops, and markets carrier-grade microwave radio frequency networking equipment that wirelessly transmit broadband voice, video, and other data.DragonWave share prices have moved between a 52-week high of $8.75 and a 52-week low of $2.70 and closed yesterday at 27% above that low price at $3.43 per share. Over the past week, the 200-day moving average (MA) has gone down 0.7% while the 50-day MA has declined 1.6%.SmarTrend recommended that its subscribers protect gains by selling shares of DragonWave on March 8th, 2012 by issuing a Downtrend alert when the shares were trading at $3.78. Since that call, shares of DragonWave have fallen 9.1%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.