user warning: Table './fnndrupaldev/term_node' is marked as crashed and last (automatic?) repair failed query: SELECT t.* FROM term_node r INNER JOIN term_data t ON r.tid = t.tid INNER JOIN vocabulary v ON t.vid = v.vid WHERE r.vid = 450895 ORDER BY v.weight, t.weight, t.name in /var/www/www.fnno.com/htdocs/modules/taxonomy/taxonomy.module on line 617.

Possible Bearish Inside Day Candle Pattern Detected for Fabrinet (NYSE:FN)

Published on Fri, 03/01/2013 - 08:25
By Adrienne Chilton

Analysts have spotted a possible bearish inside day candle pattern in Fabrinet (NYSE:FN) based on the price action in the company's shares. Yesterday's price range of $16.29 and $16.58 is within the prior day's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Fabrinet may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Fabrinet offers outsourced process engineering and manufacturing services. The Company contracts to manufacture optical communications, automotive, industrial, and imaging components, sub-assemblies, and modules for its original equipment manufacturer customers.

There is potential upside of 4.8% for shares of Fabrinet based on a current price of $16.41 and an average consensus analyst price target of $17.20. The stock should find initial support at its 50-day moving average (MA) of $14.28 and further support at its 200-day MA of $12.36.

In the past 52 weeks, Fabrinet share prices have been bracketed by a low of $9.25 and a high of $19.54 and closed yesterday at $16.41, 77% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.4% while the 50-day MA has advanced 2.5%.

By Adrienne Chilton
achilton@fnno.com

Latest News from FNNO

Shares of MGIC Investment Receive a Boos...

MGIC Investment (NYSE:MTG), a company whose shares are moving quickly, is trading 2.8% ...

Buyers Accumulate Shares of Galectin The...

Galectin Therapeutic (NASDAQ:GALT) is a company whose shares are active, trading 2.9% ...

Shares of Westpac Banking Under Pressure...

One of today's stocks on the move is Westpac Banking (NYSE:WBK), down 3.0% to $29.76. ...

Shares of Endo Pharmaceuticals Receive a...

Endo Pharmaceuticals (NASDAQ:ENDP), a company whose shares are moving quickly, is tradi ...

Buyers Accumulate Shares of Toll Brother...

One of today's stocks on the move is Toll Brothers (NYSE:TOL), up 3.0% to $34.11. The ...

Shares of Cavco Industries Receive a Boo...

Cavco Industries (NASDAQ:CVCO), a company whose shares are moving quickly, is trading 3 ...

Shares of Factset Research Systems Under...

Down 3.2% to $122.69, Factset Research Systems (NYSE:FDS), is one of today's notable mo ...

Buyers Accumulate Shares of MDC Holdings...

MDC Holdings (NYSE:MDC) is a company whose shares are active, trading 3.2% higher to $2 ...