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InterDigital Bearish Moving Average Crossover Alert (IDCC)

Published on Thu, 02/21/2013 - 12:19
By Robert Cotter

InterDigital (NASDAQ:IDCC) shares have crossed bearishly below their 10-day moving average of $44.34 on a volume of 486K shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

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.

Potential upside of 5.2% exists for InterDigital, based on a current level of $43.03 and analysts' average consensus price target of $45.25. InterDigital shares should encounter resistance at the 50-day moving average (MA) of $43.66 and support at its 200-day MA of $35.15.

InterDigital share prices have moved between a 52-week high of $82.50 and a 52-week low of $22.37 and are now trading 92% above that low price at $43.03 per share. The 200-day and 50-day moving averages have moved 0.52% higher and 0.09% higher over the past week, respectively.

By Robert Cotter