Avago Technologies (NASDAQ:AVGO) shares have crossed bearishly below their 10-day moving average of $35.62 on a volume of 1.0 million shares. This may provide short-term investors a chance for a short position, as such a crossover often suggests lower prices in the near term.
In the past 52 weeks, shares of Avago Technologies have traded between a low of $29.70 and a high of $39.22 and are now at $35.46, which is 19% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 0.4%.
Avago Technologies (NASDAQ:AVGO) has potential upside of 16.2% based on a current price of $35.46 and analysts' consensus price target of $41.20. The stock should find initial support at its 50-day moving average (MA) of $34.97 and further support at its 200-day MA of $34.50.
Avago Technologies Ltd. manufactures semiconductor products such as optoelectronics, radio-frequency and microwave components, and application-specific integrated circuits. The Company's products are used in mobile phones, consumer electronics, enterprise and telecom networking gear, optical mice, automotive electronics, and military and aerospace systems.