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Avago Technologies Makes a Move: Up 2.0%

Published on Wed, 01/30/2013 - 13:16
By Adrienne Chilton

Avago Technologies (NASDAQ:AVGO) is one of today's notable stocks on the rise, up 2.0% to $35.26. The S&P is trading fractionally lower to 1,507 and the Dow is trading fractionally higher to 13,956.

In the past 52 weeks, Avago Technologies share prices have been bracketed by a low of $29.70 and a high of $39.22 and are now at $35.26, 19% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.2%.

Potential upside of 15.6% exists for Avago Technologies, based on a current level of $35.26 and analysts' average consensus price target of $40.78. The stock should find initial support at its 200-day moving average (MA) of $34.11 and further support at its 50-day MA of $33.36.

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.

By Adrienne Chilton
achilton@fnno.com

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