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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