Today, shares of Mellanox Technologies (NASDAQ:MLNX) have crossed bearishly below their 10-day moving average of $59.25 on a volume of 185K shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.
Mellanox Technologies (NASDAQ:MLNX) is currently priced 1.9% above its average consensus analyst price target of $56.83. The stock should find resistance at its 200-day moving average (MA) of $76.53, as well as support at its 50-day MA of $55.17.
Mellanox Technologies Ltd. designs and develops semiconductor-based, high-performance interconnect products. The Company's products facilitate data transmission between servers and storage systems through communications infrastructure equipment.
In the past 52 weeks, shares of Mellanox Technologies have traded between a low of $24.51 and a high of $120.05 and are now at $57.93, which is 136% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.8%.