Today, shares of Kla-Tencor (NASDAQ:KLAC) have crossed bullishly above their 10-day moving average of $48.07 on a volume of 929K shares. This may provide swing traders with an opportunity for a long position, as such a crossover often suggests higher prices in the near term.
KLA-Tencor Corporation manufactures yield management and process monitoring systems for the semiconductor industry. The Company's systems are used to analyze product and process quality at critical steps in the manufacture of circuits and provide feedback so that fabrication problems can be identified. KLA-Tencor operates sales, service, and application centers worldwide.
Potential upside of 6.1% exists for Kla-Tencor, based on a current level of $48.31 and analysts' average consensus price target of $51.28. Kla-Tencor shares have support at the 50-day moving average (MA) of $46.77 and additional support at the 200-day MA of $42.28.
In the past 52 weeks, Kla-Tencor share prices have been bracketed by a low of $33.20 and a high of $51.83 and are now at $48.31, 46% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.6%.
