Today, shares of InterDigital (NASDAQ:IDCC) have crossed bearishly below their 10-day moving average of $49.98 on a volume of 463K shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.
InterDigital has overhead space with shares priced $49.50, or 2.3% below the average consensus analyst price target of $50.67. The stock should hit resistance at its 50-day moving average (MA) of $51.82, as well as support at its 200-day MA of $45.86.
Over the past year, InterDigital has traded in a range of $22.37 to $82.50 and is now at $49.50, 121% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 0.4% while the 50-day MA has remained constant.
InterDigital, Inc. develops technology for advanced digital wireless telecommunications applications. The Company offers both time division multiple access and wide band code division multiple access proprietary and standards compliant digital wireless technology to customers, licensees, and companies.