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Bearish Moving Average Cross by NXP Semiconductors (NXPI)

Published on Mon, 04/01/2013 - 11:16
By Adrienne Chilton

Today, shares of NXP Semiconductors (NASDAQ:NXPI) have fallen below their 10-day MA of $29.80 on a volume of 918K shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

NXP Semiconductors share prices have moved between a 52-week high of $32.99 and a 52-week low of $18.57 and are now trading 58% above that low price at $29.36 per share. The 200-day and 50-day moving averages have moved 0.79% higher and 0.45% higher over the past week, respectively.

NXP Semiconductors (NASDAQ:NXPI) has potential upside of 21.9% based on a current price of $29.36 and analysts' consensus price target of $35.80. The stock should find resistance at its 50-day moving average (MA) of $30.89, as well as support at its 200-day MA of $25.66.

NXP Semiconductors NV operates as a global semiconductor company. The Company designs semiconductors and software for mobile communications, consumer electronics, security applications, in-car entertainment, and networking. NXP offers its products to the automotive, identification, wireless infrastructure, lighting, mobile, and computing applications.

By Adrienne Chilton