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Shares of Seagate Technology Rise Above Previous 52-Week High

Published on Mon, 05/06/2013 - 14:28
By Robert Cotter

Seagate Technology (NASDAQ:STX) traded at a new 52-week high today of $42.15. Approximately 5.3 million shares have changed hands today, as compared to an average 30-day volume of 5.5 million shares.

Based on a current price of $41.97, Seagate Technology is currently 16.9% above its average consensus analyst price target of $34.88. The stock should find initial support at its 50-day moving average (MA) of $35.07 and further support at its 200-day MA of $31.83.

Seagate Technology designs, manufactures, and markets rigid disc drives for enterprise, personal computer, and consumer electronics applications.

Over the past year, Seagate Technology has traded in a range of $21.62 to $42.15 and is now at $41.97, 94% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.3% while the 200-day MA has risen 1.0%.

By Robert Cotter
rcotter@fnno.com