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Stock Investors Bid Up Shares of Mellanox Technologies, Up 1.4%

Published on Thu, 04/11/2013 - 10:31
By Peter Chu

One of today's stocks on the move is Mellanox Technologies (NASDAQ:MLNX), up 1.4% to $59.59. The Dow is up 0.3% to 14,849 and the S&P is currently up 0.3% to 1,593.

Mellanox Technologies (NASDAQ:MLNX) defies analysts with a current price ($59.59) 4.6% above its average consensus price target of $56.83. The stock should find resistance at its 200-day moving average (MA) of $76.71, as well as support at its 50-day MA of $54.31.

In the past 52 weeks, shares of Mellanox Technologies have traded between a low of $24.51 and a high of $120.05 and are now at $59.59, which is 143% above that low price. The 200-day and 50-day moving averages have moved 0.25% lower and 0.96% higher over the past week, respectively.

Mellanox Technologies Ltd. designs and develops semiconductor-based, high-performance interconnect products. The Company's products facilitate data transmission between servers and storage systems through communications infrastructure equipment.

By Peter Chu