One of today's notable stocks in decline is FARO Technologies (NASDAQ:FARO), down 2.6% to $55.96. The S&P is currently trading 0.7% lower to 1,307 and the Dow Jones Industrial Average is trading 0.7% lower to 12,573.
In the past 52 weeks, FARO Technologies share prices have been bracketed by a low of $28.75 and a high of $58.41 and are now at $55.96, 95% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 1.0% while the 50-day MA has advanced 2.3%.
FARO Technologies (NASDAQ:FARO) defies analysts with a current price ($55.96) 3.5% above its average consensus price target of $54.00. The stock should discover initial support at its 50-day moving average (MA) of $48.27 and subsequent support at its 200-day MA of $42.03.
FARO Technologies, Inc. designs, develops, and markets software and portable, computerized measurement devices. The Company's products allow manufacturers to perform three-dimensional inspections of parts and assemblies on the shop floor. This helps eliminate manufacturing errors, and thereby increases productivity for a variety of industries in FARO's worldwide customer base.
