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InterDigital Crosses Below its 10-day MA (IDCC)

Published on Tue, 01/22/2013 - 12:11
By Mallory Stone

InterDigital (NASDAQ:IDCC) crossed under its 10-day moving average of $44.00 on a volume of 105K shares. This may provide swing traders with an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

Potential upside of 2.4% exists for InterDigital, based on a current level of $43.72 and analysts' average consensus price target of $44.75. The stock should discover initial support at its 50-day moving average (MA) of $42.46 and subsequent support at its 200-day MA of $33.80.

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 95% above that low price at $43.72 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.9% while the 200-day MA has risen 0.7%.

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.

By Mallory Stone
mstone@fnno.com

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